India's GR Infraprojects rises after units execute concession agreement for projects

G R Infraprojects

30/08/2023 05:22

** Shares of G R Infraprojects  GINF.NS  up as much as 3.8%
at 1,335 rupees, their highest level since Aug 8
    ** The infrastructure development co said on Tuesday that
two of its units have executed the concession agreement with the
National Highways Authority of India 
    ** Concession agreement for two projects in Karnataka worth
14.57 bln rupees ($176.15 mln)
    ** Stock on track to rise for a fifth straight session, if
gains hold
    ** Over 58,000 shares change hands, 1.7x the 30-day moving
avg
    ** Nine of the 13 analysts covering the stock have a "buy"
or higher rating, three have hold while one rates it "strong
sell"; median PT is 1,480 rupees - Refinitiv data
    ** As of last close, stock up 12.8% this year

    ($1 = 82.7150 Indian rupees)

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