India's G R Infraprojects rises on project bid

HG Infra Engineering

24/09/2024 05:06

** Shares of G R Infraprojects  GINF.NS  rise 4.5% to 1,741
rupees, highest since early Aug
    ** Engineering and construction co is lowest bidder at 9.04
bln rupees ($108.2 mln) for tender to build metro viaduct
    ** Avg rating of nine analysts on GINF is "hold"; median PT
1,615 rupees -LSEG data
    ** Stock now up ~52% YTD, more than PNC Infratech  PNCI.NS 
(~24%) but trailing HG Infra  HGIN.NS  (~81%)
 
 ($1 = 83.5470 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))