Infra stock hits 5% upper circuit after company received order worth ₹ 47.97 Cr from Western Railways

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Infra stock hits 5% upper circuit after company received order worth ₹ 47.97 Cr from Western Railways

Infra stock engaged in the business of civil construction of building roads, bridges, foot overbridges, earthworks, and numerous other Infrastructure constructions hits a 5 percent upper circuit in the day’s trade upon receiving a work order worth Rs. 47.97 Crores from the Western Railways.

With a market capitalization of Rs. 1,165 Crores, the shares of Giriraj Civil Developers Limited hit a 5 percent upper circuit at Rs. 487.35 from its previous day’s close price of Rs. 464.15.

Giriraj Civil Developers Limited has secured two new work orders for a consideration of Rs. 47.97 Crores from the Western Railways For providing a 6 M. wide Foot Over Bridges (FOB) between Borivali – Dahisar at km 35/1003-1004 to prevent trespassing through the railway track.

It also includes the Construction of 3 washing cum inspection pit lines along with Electrical work by converting one stabling cum washing line and 2 Dry Pit Inspection Lines for the Bandra Terminus.

Giriraj Civil Developers Limited is engaged in the business of civil construction of building roads, bridges, foot overbridges, earthworks, and numerous other Infrastructure constructions for the government, semi-government, corporation, and private organizations.

Its revenue from operations grew by 17.17 percent from Rs. 94.67 Crores in FY22 to Rs. 110.92 Crores in FY23, accompanied by profits of Rs. 3.79 Crores to Rs. 4.5 Crores.

It has reported a return on equity(ROE) of 8.34 percent, a return on capital employed (ROCE) of 10.44 percent, and a debt-to-equity ratio of 0.4.

Written by Bharath KS

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