India's G R Infraproject surges after 43-billion-rupee road project win

Ashoka Buildcon

19/03/2025 04:53

** Shares of G R Infraprojects GINF.NS surge 10.6% to 1041 rupees, their second-biggest one-day gain

** Engineering and construction co wins project worth about 42.63 billion rupees ($492.2 million) from National Highways Authority of India for road construction

** More than 832,000 shares traded, 7.5x the 30-day avg

** Still, stock is below 50-, 100-, 200- day moving avgs

** Avg of analysts rating on stock is "buy," same as that on peers Ashoka Buildcon ABDL.NS, KNR Constructions KNRL.NS; median PT on GINF is 1508 rupees - data compiled by LSEG

** Stock down 30% so far this year, after a 28.6% rise in 2024

($1 = 86.6080 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)

 ((aleefjahan.cs@thomsonreuters.com))