Shares of GR Infraprojects Ltd skyrocketed 14% on 19 March after the company announced bagging a significant project worth Rs 4,262 crore from the NHAI for the Greenfield Route construction between Agra and Gwalior.

As part of the project, a six-lane, access-controlled greenfield highway connecting Madhya Pradesh, Rajasthan, and Uttar Pradesh would be built. Under the NH(O) plan, the current Agra-Gwalior sections in these states will also receive overlay/strengthening, road safety upgrades, and a DBFOT pattern improvement at BOT (Toll) Mode.

Earlier on 7 March, the company’s board of directors declared an interim dividend of Rs 12.50 per equity share, with a face value of Rs 5 per equity share, for the fiscal year 2024–2025. 

Furthermore, the plan to sell the company’s entire ownership stake or investment in GR Galgalia Bahadurganj Highway (GGBHPL) and transfer the company’s unsecured debt to GGBHPL was approved.

In February, the Assamese government signed a Memorandum of Understanding (MoU) with G R Infraprojects to create a ropeway from Sonaram Field to Bhubaneshwari temple, Kamakhya, near Guwahati. An estimated Rs 270 crore will be needed for the project.

The company said, “According to this MoU, the Government of Assam will facilitate GR Infraprojects Limited in the development of the ropeway by assisting in obtaining all necessary permissions, registrations, approvals, and clearances from the concerned departments, agencies, and authorities of the state, in accordance with the existing policies, rules, and regulations.”

At 12:35 pm, the shares of GR Infraprojects were trading 10.56% higher at Rs 1,040 on NSE.

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