On Wednesday, August 7, shares of GR Infraprojects rose by up to 2.91 percent to an intraday high of Rs 1,644.90 per share. However, at 9:28 a.m., shares were down from their highs and trading 1% higher at $1599.30 per share. In comparison, the Nifty50 was trading 1.12% higher at 24,261.85 levels. The share price increased after the company stated that it had emerged as the lowest bidder (L-1) for a project in Karnataka. However, the corporation did not disclose the project's cost.
GR Infraprojects has been awarded the "Transmission scheme for integration of Tumkur-II REZ" project in Karnataka through a Tariff-based Competitive Bidding (TBCB) process on a Build-own-operate-transfer (BOOT) basis. REC Power Development and Consultancy Limited, the Bid Process Coordinator (BPC), held an e-reverse auction on August 6, 2024.
According to GR Infraprojects, the TSP is responsible for establishing the Transmission System, which includes a 400/220 kV 4x500 MVA Pooling Station near Tumkur, Karnataka, a 400kV DC Line Tumkur-II - Tumkur (Pavagada) with two 400kV Line bays, and two 125 MVAr 420 kV bus reactors with bays at Tumkur-II PS. GR Infraprojects Ltd, established in 1995, is a prominent integrated Engineering, Procurement, and Construction (EPC) organization that specializes in road infrastructure.
The organization has a proven track record of designing and building over 100 road projects in 16 Indian states. Its core business, which accounts for approximately 90% of its revenue, includes EPC, Build-Operate-Transfer (BOT), and Hybrid Annuity Model (HAM) projects, primarily in the road sector. In addition to road construction, GR Infraprojects works on railway, metro, airport runway, and optical fibre cable (OFC) projects.
The company's diversification plan has taken them into the power transmission business. G R Infraprojects now administers a portfolio of ten operational assets, including one National Highways Authority of India (NHAI) annuity project, one state HAM project, and eight more NHAI HAM projects. The company's entire market value is Rs 15,463.46 crore, according to the National Stock Exchange (NSE). The stock's 52-week high is Rs 1,860, and its low is Rs 1,024.95.
