After securing a significant order from the Indian Railway sector, GPT Infraprojects is set to be in the spotlight on Monday. The company recently bagged a ₹204 crore order for a project with Kolkata’s South Eastern Railway. This order could positively impact the company’s stock, especially following the recent declines.
Recent Stock Decline
GPT Infraprojects’ stock has been on a downward trend since August 23, with a consistent decline observed through August 30. On August 27, the stock closed at ₹185, but by August 30, it had dropped to ₹177.10, reflecting a 6.52% decrease in just three days. This decline has been concerning for shareholders, but the new order received on August 31 is expected to change the situation.
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₹204 Crore Order and Its Potential Impact
On August 31, GPT Infraprojects informed the stock market that it had secured a ₹204 crore order from South Eastern Railway, Kolkata. This order is for the construction of overbridge roads between Andul-Sankrail and Nalpur-Bauria stations under the Howrah-Kharagpur section. The company won this project by placing the lowest bid, which led to the order being awarded to them. Following this news, the stock is likely to see a surge, which could be a relief for the company’s shareholders.
Steps Taken for Financial Improvement
The company is also actively working on improving its financial health. GPT Infraprojects announced that it plans to raise ₹175 crore through Qualified Institutional Placement (QIP). This amount will be used to reduce the company’s ₹190 crore debt and save ₹15 crore in annual interest payments.
Final Takeway
The significant order received by GPT Infraprojects is expected to drive the company’s stock higher on Monday. Additionally, the steps taken by the company for financial improvement could position it strongly in the market. This is a crucial time for investors, and keeping an eye on the company’s stock could prove beneficial.
