India's GMR Power and Urban Infra rises on $619 mln contract award

GMR Power and Urban Infra

04/09/2023 05:20

** Shares of India's GMR Power and Urban Infra  GMRP.NS 
jump as much as 19.9% to 34.1 rupees
    ** Shares on track for a third consecutive session of gains,
if trend holds 
    ** Co says its unit GMR Smart Electricity Distribution
received letter of award for smart metering contract worth 51.23
billion rupees ($619.1 million) in Uttar Pradesh state
    ** Project to span over a period of 10 years
    ** More than 19 mln shares changed hands by 9:48 a.m. IST,
3.5x 30-day avg
    ** As of last close, stock up 23.4% YTD

($1 = 82.7550 Indian rupees)

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