India's GR Infraprojects up 3% on deal to construct 6-lane highway

G R Infraprojects

07/06/2023 08:30

** Shares of G R Infraprojects  GINF.NS  rise as much as
2.85% to 1,302 rupees
    ** Rise after firm's unit G R Hasapur Badadal Highway
executes a concession agreement with National Highways Authority
of India (NHAI) to construct a six-lane border greenfield
stretch through Surat-Nashik-Ahmednagar-Solapur
    ** Bid project cost is 8.72 bln rupees; project to be
completed within 730 days under Bharatmalal Pariyojana
    ** Trading volume is 37,732 shares as of 12:52 p.m. IST,
0.7x the 30-day avg - Refinitiv data
    ** Of the 13 analysts tracking GINF, nine maintain "buy",
one recommends "sell" and three suggest "hold"; median TP is
1,391 rupees
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))