GR Infraprojects has received several good orders recently, which has strengthened its order book. The order book of the company is currently 23000 crores.
GR Infraprojects Stock Price: The IPO of infra sector company GR Infraprojects has proved to be a blockbuster for investors. While investors have been disappointed with the many recent IPOs, GR Infraprojects proved to be a return machine for them. Despite the recent fall in the market, the stock is trading at a gain of 77 per cent over the issue price. It gave more than 100 per cent returns to investors on listing day. For the time being, the fundamentals of the company are still strong and it can become a return machine for the investors in the future as well. Brokerage house Motilal Oswal has given investment advice expecting an upside of 31 per cent in the stock.
Orderbook is getting stronger
Brokerage house Motilal Oswal has advised to invest in the stock of GR Infraprojects and has given a target of Rs 1900 for this. The current price is Rs 1449, in which case 31 percent return can be given in this further. The brokerage house says that the company has received many good orders recently, which has strengthened its order book. The order book of the company is currently 23000 crores. In this case the company is in a comfortable position. The company has also won many bids in the power T&D segment, which will strengthen its business. The brokerage house believes that during FY21-24 there can be a growth of 12 percent in revenue. Whereas EBITDA margin is expected to be in the range of 16-17 per cent.
The money was doubled on the listing itself
GR Infraprojects was listed on the stock market on July 19 last year. The company had kept the issue price at Rs 837, while it was listed at Rs 1700 with a premium of 105 per cent. At the same time, it closed at Rs 1747, up 1.9 per cent from the issue price on the listing day. The stock is currently trading at Rs 1,480, which is 77 per cent higher than the issue price.
GR Infraprojects is an Integrated Road Engineering, Procurement and Construction (EPC) company with experience in designing and building road and highway projects in various states of the country. The track record of the company has been good. The company will get the benefit of the Bharat Mala project of the government.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)
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