G R Infraprojects shares rise after highway contract award

Shares of G R Infraprojects increased by 11% to ₹1,042 after the company announced a major contract. The contract, worth ₹4,262.78 crore, is from the National Highways Authority of India (NHAI) to construct and upgrade the Agra-Gwalior highway. The project will develop a six-lane highway starting from near Deori village in Agra to Susera village in Gwalior. It will also upgrade parts of the existing NH-44 highway in Uttar Pradesh, Rajasthan, and Madhya Pradesh. The work will be managed under a Design, Build, Finance, Operate, and Transfer (DBFOT) model. This announcement boosted G R Infraprojects' stock in early trading on March 19. In late February, the company also signed a deal for a ₹270 crore ropeway project in Assam. Earlier in January, it became the lowest bidder for a rail project worth ₹262.28 crore. Despite the recent jump in shares, the company has seen a 43.5% decline in stock value over the past six months. G R Infraprojects has a strong history in road construction and maintenance, with operations in northern and central India, and is expanding into other regions.