India's G R Infraprojects rises on $90 mln order win

G R Infraprojects

31/03/2023 05:21

** Shares of construction firm G R Infraprojects Ltd
 GINF.NS  up as much as 9.5% to 1,064.4 rupees, highest level
since March 20
    ** Stock posts biggest intraday pct gain since March 23, on
track for second consecutive session of gains if trend holds
    ** Co receives letter of award for project from National
Highways Authority of India at estimated cost of 7.41 bln rupees
 ($90.26 mln)
    ** Over 75,470 shares change hands by 09:43 a.m. IST, 0.7x
the 30-day moving avg
    ** Nine of 13 analysts covering stock have "buy" or "strong
buy" rating, three have "hold" while one recommends "strong
sell"; median PT is 1,400 rupees - Refinitiv data
    ** As of last close, stock down 14.7% so far this year after
falling 34.5% in 2022

($1 = 82.1000 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))