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GMR Infra spurts on winning railway project worth Rs 267 crore

04 Mar 2014 Evaluate

GMR Infrastructure is currently trading at Rs. 20.75, up by 0.35 points or 1.72 % from its previous closing of Rs. 20.40 on the BSE.

The scrip opened at Rs. 20.00 and has touched a high and low of Rs. 20.85 and Rs. 20.00 respectively. So far 115970 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 25.35 on 01-Jan-2014 and a 52 week low of Rs. 10.65 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 21.10 and Rs. 19.70 respectively. The current market cap of the company is Rs. 8115.73 crore.

The promoters holding in the company stood at 71.70 % while Institutions and Non-Institutions held 19.29 % and 9.02 % respectively.

GMR Infrastructure along with its consortium has won construction package of rail line doubling between Jhansi and Bhimsen stations in the state of Uttar Pradesh, India. GMR is the lead member of the consortium with TATA Projects & Kalindee Rail Nirman as the partner for OHE and Track works, S&T works respectively. Rail Vikas Nigam has issued the Letter of Award to GMR consortium on February 20, 2014.

The total contract is valued at approximately Rs 267 crore of which GMR’s share of work is about Rs 135 crore. The project is scheduled to commence from April 02, 2014 and duration for completion of the project is 42 months. The work includes Construction of Roadbed, Major & Minor bridges, Track Linking, Outdoor S&T Works, OHE, TSS & General Electrical works from Jhansi to Erich Road.

GMR Infrastructure is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets.

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