Multibagger Stock: GPT Infraprojects shares jump another 10%, up 366% in a year
GPT Infra Projects continued their winning streak for the second consecutive session, rising by 10% to reach ₹207 apiece. The previous trading session saw a significant gain of nearly 9%, attributed to the joint venture securing an order valued at ₹487 crore from Central Railway, Mumbai. This recent order pertains to the construction of a new BG line in the Solapur-Osmanabad section, spanning from chainage ₹52500 to 83200 in the Solapur Division.
Also Read: Vodafone Idea FPO share price opens with 7.27% premium at ₹11.80 on NSE Additionally, in March, the company, along with its joint venture partner, secured an order from North Central Railway, Agra, Uttar Pradesh, worth ₹135 crore. Earlier, in February, it clinched another joint venture order valued at ₹114 crore from East Central Railway Mahendrughat, Patna, Bihar. GPT, the flagship company of GPT Group, headquartered in Kolkata, operates primarily in two segments: infrastructure and sleeper.
Established in 2004, GPT has become a prominent player in the infrastructure sector, particularly focused on railways. The company specialises in executing civil and infrastructure projects, with a notable emphasis on constructing large bridges and ROBs for railways. Also Read: Kotak Mahindra Bank share price tanks 10% as RBI action seen hurting growth, margins In addition to its infrastructure endeavours, GPT is actively involved in the sleeper segment.
Here, the company manufactures and supplies concrete sleepers to railways, catering to both the Indian and African markets. So far this year, the company's shares have surged by almost 24%, following an impressive multibagger return of 203% in CY23. Reflecting on previous years, the shares recorded returns of 34% in CY22, 71.40%
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