G R Infraprojects rises on inking pact to acquire Tumkur-II REZ Power Transmission
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GR Infraprojects is currently trading at Rs. 1622.00, up by 15.85 points or 0.99% from its previous closing of Rs. 1606.15 on the BSE.
The scrip opened at Rs. 1604.70 and has touched a high and low of Rs. 1622.00 and Rs. 1603.70 respectively. So far 301 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1859.95 on 26-Jun-2024 and a 52 week low of Rs. 1025.00 on 30-Nov-2023.
Last one week high and low of the scrip stood at Rs. 1623.15 and Rs. 1481.80 respectively. The current market cap of the company is Rs. 15529.71 crore.
The promoters holding in the company stood at 74.74%, while Institutions and Non-Institutions held 21.90% and 3.36% respectively.
G R Infraprojects has entered into Share Purchase Agreement with REC Power Development and Consultancy (RECPDCL) for acquisition of ‘Tumkur-II REZ Power Transmission’ (TRPTL). After this acquisition, TRPTL has become wholly owned subsidiary company of G R Infraprojects. Cost of acquisition is Rs 6.72 crore.
The company has been identified as the Selected Bidder vide Letter of Intent dated August 12, 2024 for Project ‘Establishment of 400/220 kV 4x500 MVA Pooling Station near Tumkur, Karnataka, Tumkur-II – Tumkur (Pavagada) line 400 kV (Quad ACSR Moose) D/c line and 2x125 MVAr 420 kV bus reactors with bays at Tumkur-II PS’. As a condition of RFP of the Project, in order to undertake the Project, the company shall purchase the Shares of Tumkur-II REZ Power Transmission from REC Power Development and Consultancy (Bid Process Co-Ordinator).
G R Infraprojects is an integrated road EPC company with experience in design and construction of various road/highway projects across many States in India.
