The share price of GR Infraprojects remains in focus today as the company executed a Rs 413 crore engineering, procurement and construction project with NTPC.
Under the scope of the project, the infrastructure company has implemented a Battery Energy Storage System at NTPC’s Mauda Super Thermal Power Station.
NTPC-GR Infraprojects: Project details
On April 23, GR Infraprojects in an exchange filing announced the execution of this project with NTPC, post market hours.
It stated that an EPC agreement has been implemented between both the companies for the project “ EPC Package for BESS Implementation at NTPC Thermal Power Stations (Lot-1); Mouda Super Thermal Power Station (Mouda).”
The total contract value exclusive of GST stands at Rs 413.37 crore, and the project is expected to be completed within 15 months from the date of declaration.
GR Infraprojects: NHAI order win
Prior to this, in early April the infrastructure company had secured an order worth Rs 1,453 crore from NHAI (National Highway Authority of India).
Under the project, GR Infraprojects would upgrade the existing two-lane carriageway into a four-lane divided carriageway to connect Gujarat’s Nasarpore village to Malohtha village. The project is expected to be completed within 910 days from the date of appointment.
NTPC: Share Price
The NTPC shares were flat in early trade. Over the past week the PSU’s stock has delivered a return of nearly 2%, while over the past month it has climbed up by more than 6%.
Since the past six months, the company’s share price has climbed up by 17%, while since the past one year it has generated a return of 10%.
GR Infraprojects: Share Price
In early trade, the share price of GR Infraprojects flat. Over the past one month the company’s stock has delivered a return of more than 5%. Looking at the longer time frame, over the past six months the stock has declined by nearly 27%.
Over the past one year the share price has fallen by more than 22%.
So far this year, GR Infraprojects’s share price has declined by more than 13%.
About GR Infraprojects
GR Infraprojects is an Indian infrastructure company which primarily focuses on the development and design of roads and highways. The company also provides EPC services for airport runways, railways, metros and power transmission and distribution, telecommunications and IT infrastructure.
About NTPC
National Thermal Power Corporation (NTPC) is a public-sector undertaking which operates under the Ministry of Power, Government of India. The company is primarily engaged in the business of generating electricity and selling it to state government enterprises.