The infrastructure sector in India is an important driver of the country’s economic growth. Infrastructure stocks in India refer to companies involved in developing and operating infrastructure projects such as roads, bridges, airports, and power plants. The infrastructure stocks in India offer promising investment opportunities.
Listed below are three stocks that received orders from Maharashtra State Road Development Corporation:
G R Infraprojects Ltd
With a market capitalization of Rs. 15,760 crores, the shares of G R Infraprojects Ltd started Wednesday’s trading session on a higher note at Rs. 1,629 compared to its previous close of Rs. 1,570.40. During the trading session, the shares hit a high of Rs. 1,649.85, gaining around 5 percent, also recorded as the company’s fresh 52-week high and closed the day at Rs. 1,615 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that it had as the lowest bidder for two road projects worth Rs 4,346.14 crore of Maharashtra State Road Development Corporation.
The first project involves the construction of the Pune Ring Road from Kalyan/Rathwade to Shivare/Kusgaon (9.341 km) with a contract value of Rs. 1,997.07 crores, to be completed in 36 months. The second project is the Nagpur–Chandrapur expressway from Seldoh to Lonhar (33.300 km) with a contract value of Rs. 2,349.07 crores, to be completed in 30 months. As of 31st December 2023, the company had an order book of Rs. 19,253.042 crores.
Looking at the company’s financial statements, the revenue increased by 13 percent from Rs. 1,882.78 crores during the September quarter to Rs. 2,134.02 crores in the December quarter. In addition, the net profits surged by 12 percent from Rs. 217.16 crores to Rs. 242.88 crores during the same period.
H.G. Infra Engineering Ltd
With a market capitalization of Rs. 10,381 crores, the shares of H.G. Infra Engineering started Wednesday’s trading session on a higher note at Rs. 1,539 compared to its previous close of Rs. 1,455.34. During the trading session, the shares hit a high of Rs. 1,645.45, gaining around 10 percent, also recorded as the company’s fresh 52-week high and closed the day at Rs. 1,594 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it was declared as an L-l bidder by the Maharashtra State Road Development Corporation for two projects worth Rs. 4,142 crores.
The company received the order for for construction of two stretches of the Nagpur-Chandrapur Access Controlled Super Communication Expressway. One stretch is from Chargaon village to Nandgaon and the other is from Nandgaon to Jogapur. As per the latest data, the company had an order book of Rs.12,434 crores.
Coming onto the company’s financial statements, the revenue zoomed by 24 percent from Rs. 1,364.53 crores in the December quarter to Rs. 1,708.26 crores during the March quarter. On the other hand, the net profits magnified by 86 percent from Rs. 102.05 crores to Rs. 190.03 crores during the same timeframe.
PNC Infratech Ltd
With a market capitalization of Rs. 13,254 crores, the shares of PNC Infratech Ltd started Wednesday’s trading session on a higher note at Rs. 475 compared to its previous close of Rs. 457.85. During the trading session, the shares hit a high of Rs. 535.50, gaining around 16 percent, also recorded as the company’s fresh 52-week high and closed the day at Rs. 517.80 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it was declared as the lowest bidder (L1) for two EPC projects of Maharashtra States Road Development Corporation (MSRDC) worth Rs 4,994 crores.
The company received the project for constructing the access-controlled Pune Ring Road in Pune District. This project covers a total length of 13.8 kilometres. The second order pertains to constructing the Access Controlled Expressway from Jalna to Nanded in Maharashtra. As of 31st December 2023, the company had an order book of Rs. 17,380 crores.
Looking at the company’s financial statements, the revenue increased by 7 percent from Rs. 1,911.38 crores during the September quarter to Rs. 2,046.64 crores during the December quarter. Additionally, the net profits zoomed by 25 percent from Rs. 147.91 crores to Rs. 185 crores during the same timeframe.
Written By Vaibhav Patil
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