India's G R Infraprojects up 6% on $72 mln order win

G R Infraprojects

29/03/2023 05:03

** Shares of construction firm G R Infraprojects Ltd
 GINF.NS  up as much as 6.1% to 999.90 rupees, their biggest
intraday pct gain in one week since March 23, 2023
    ** Co on Tuesday, after market hours, said it received
letter of acceptance for a project from East Coast Railway
    ** Estimated cost of project is 5.88 bln rupees ($71.5 mln) 
    ** GINF on Tuesday, during market hours, said it emerged as
lowest bidder for two projects worth 8.97 bln rupees and 7.16
bln rupees, from National Highways Authority of India 
    ** Over 48,000 shares change hands by 09:21 a.m. IST, 0.5x
the 30-day moving avg 
    ** Nine of 13 analysts covering the stock have a "buy" or
"strong buy" rating, three have "hold" while one rates it
"strong sell"; median PT is 1,400 rupees - Refinitiv data
    ** As of last close, stock down 17.3% so far this year,
extending its 34.5% decline in 2022



($1 = 82.2520 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))