India's GMR Power and Urban Infra climbs on unit's order win

GMR Power and Urban Infra

13/09/2023 05:43

** Shares of GMR Power and Urban Infra  GMRP.NS  jump as
much as 9.91% at 36.60 rupees 
    ** Co said unit GMR Smart Electricity Distribution Pvt Ltd
(GSEDPL) got letter of award worth about 24.7 bln rupees
($297.85 million)
    ** Work order from Dakshinanchal Vidyut Vitran Nigam Ltd for
smart metering project in Uttar Pradesh
    ** Co on Tuesday said it increased stake in GSEDPL to 100%
from 82% 
    ** About 9.5 mln shares changed hands by 10:10 a.m. IST,
1.4x 30-day avg 
    ** YTD stock has surged ~55% 

($1 = 82.9275 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))