B R Goyal Infra gains after securing Rs 11-cr work order

B R Goyal Infrastructure advanced 2.63% to Rs 114.95 after the company received a work order worth Rs 10.90 crore from NHIT Eastern Projects for the improvement works in respect of Lakhnadon - Khawasa section of NH-44 in Madhya Pradesh.

The project involves improvement works on the Lakhnadon-Khawasa Section of NH-44 (formerly NH-07) from Km 546+420 to Km 653+770 in Madhya Pradesh, to be executed on an item-rate basis and completed within six months.

B R Goyal Infrastructure is one of the leading companies specializing in the construction and development of infrastructure projects like roads, highways, bridges, and buildings. The company also helps to provide EPC services to third parties by offering them the construction of roads & highways, commercial complexes, industrial parks, housing projects, and HAM projects. The company is also engaged in wind power generation, the manufacturing of ready-mix concrete (RMC), and toll collection contracts (TCC).

On a full-year basis, the company's consolidated net profit advanced 26.3% to Rs 21.88 crore on a 70.1% jump in revenue to Rs 588.76 crore in FY24 over FY23.

Shares of B R Goyal Infrastructure entered the stock exchanges on 14 January 2025. The stock was listed at 135.75, at a premium of 0.56% compared with the initial public offer (IPO) price. The stock was currently up 4.60% over its listing price.

B R Goyal Infrastructure's IPO was subscribed 109.91 times. The issue opened for bidding on 7 January 2025, and it closed on 9 January 2025. The price band of the IPO was set at Rs 128 to Rs 135 per share.

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