India's Garuda Construction jumps after pact to construct tower in Saudi Arabia

Garuda Construction and Engineering

08/09/2026 05:24

** Shares of Garuda Construction and Engineering GARR.NS up 8.1% to 193.1 rupees 
** Co's unit Dream City Builders enters a pact with Almasarat Company to construct 93-storey tower in Jeddah, Saudi Arabia
** Estimated revenue potential of 18 bln rupees ($190.2 mln) from the project for co's unit 
** Stock set for its best session since June 23
** Stock moved above its 50-day, 100-day, 200-day simple moving avgs
** More than 6.6 mln shares traded, 7.5x their 30-day moving avg
** YTD, GARR is nearly flat

($1 = 94.6600 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))