GPT Infraprojects witnessed a remarkable 16% surge in its stock price during early trading hours today, propelled by the announcement of securing a substantial contract valued at Rs 487 crore from the Indian Railways. This contract pertains to the development of a new BG line spanning from chainage 52500 to 83200 within the Solapur-Osmanabad section of the Solapur Division under the Central Railway umbrella. Notably, this venture is undertaken through a joint venture, with GPT holding a 26% stake.
The stock of GPT Infraprojects soared to a fresh pinnacle, reaching Rs 199 from its previous closing figure of Rs 171.30 on the BSE platform. With this surge, the market capitalization of the company ascended to Rs 1109.05 crore. Trading activity reflected a turnover of Rs 31.61 lakh on BSE today, with approximately 0.17 lakh shares changing hands. Notably, the stock’s one-year beta of 0.7 underscores its stability amidst market fluctuations.
From a technical perspective, the stock’s relative strength index (RSI) currently stands at 51, indicating a neutral trading stance. GPT Infraprojects shares are notably trading above various key moving averages, including the 5-day, 10-day, 20-day, 50-day, 100-day, and 200-day averages.
Over the past year, the stock has witnessed a remarkable ascent of 289%, with a further 12% increase observed in 2024 alone. Impressively, over a three-year period, shares of this civil construction entity have delivered extraordinary returns, surging by 925%, thus exemplifying its multibagger potential for investors.
GPT Infraprojects serves as the flagship entity of the GPT Group, headquartered in Kolkata. Renowned as a premier infrastructure firm, GPT operates through two distinct segments—Infrastructure and Sleeper. The company boasts robust project execution capabilities, a sound financial foundation, and promising growth prospects across its operational domains. As of now, the company’s outstanding order book stands at approximately Rs 2,838 crore, with a total order influx of Rs 1,019 crore recorded for fiscal year 2024.