GPT Infraprojects Hits 20% UC As Subsidiary Wins Rs 123 Crore Order in Ghana

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GPT Infraprojects Hits 20% UC As Subsidiary Wins Rs 123 Crore Order in Ghana

By Malvika Gurung

Investing.com -- Shares of the flagship company of GPT Group, GPT Infraprojects (NS: GPTI ) soared 20% on Monday, hitting an upper circuit at Rs 53.25 apiece in the session. 

The small-cap stock rallied as the company announced on Monday that its subsidiary in Ghana won an order worth Rs 123 crore from a Ghanaian company, partly owned by the Government of Ghana.

A subsidiary of GPT Infraprojects, RMS GPT Ghana Limited, in which the former owns a 60% stake, has bagged a contract from RMS Concrete Limited, Ghana, with a size of Euro 13.936 million, translating to approximately Rs 123 crore.

According to the contract details, RMS GPT Ghana has been awarded the manufacture and supply of 1,30,000 sets of Standard Gauge Pre Stressed Railway Concrete Sleepers by RMS Concrete, Ghana.

Further, as per the Kolkata-based infrastructure construction company’s filing to the stock exchanges on Dec 26, its orders are currently worth Rs 1,985 crore in hand, including a cumulative order inflow of Rs 639 crore in the ongoing financial year, FY23.

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