Shares of GHV Infra Projects Ltd were locked at a 2% lower circuit on 22 August despite the company announcing securing a project worth Rs 2,000 crore. 

The company has received a Letter of Intent (LOI) from Valor Estate to serve as the engineering, procurement, and construction partner for the PAP & Police Housing Project in Malad (East), Mumbai.

The project has an initial budget of Rs 2,000 crore and a target completion date of 60 months from start.

Earlier this month, the company received a deal for Rs 2,645 crore from Rana Exim FZ-LLC in the UAE for the establishment of a smart manufacturing hub.

The engineering, procurement, and construction (EPC) contract is for the development of the Erisha Smart Manufacturing Hub, which will include industrial and commercial structures in the UAE’s Ras Al Khaimah Economic Zone.

Last month, the firm board approved the issuance of bonus shares to existing shareholders in a 3:2 ratio, which means three fully paid-up equity shares for every two shares owned.

The board also approved a stock split of equity shares in the ratio of 2:1, which means two equity shares of Rs 5 for every one equity share of Rs 10.

At 12:22 pm, the shares of GHV infra Projects were locked 2% lower at Rs 1,544.90 on NSE.

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