GPT Infraprojects hits 52-week high after board to mull fund raising plan

GPT Infraprojects advanced 1.72% to Rs 148.20 after the company's board will meet on Friday, 05 July 2024 to consider raising funds by way of issuance of equity shares or other securities through various modes.

The company will raise funds by issue of equity shares or other securities including through preferential issue, qualified institutional placement, rights issue, or through any other permissible mode or a combination thereof, subject to such statutory/ regulatory approvals as may be required, including approval of shareholders of the company, as applicable.

GPT Infraprojects is the flagship company of GPT Group and is a premier infrastructure company based out of Kolkata. The company operates through two business divisions infrastructure and sleepers. The company is engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways. In sleepers, the company manufactures and supplies concrete sleeper for Railways in India and Africa.

The companys consolidated net profit increased 55.67% to Rs 16.19 crore on 10.03% rise in revenue from operations to Rs 295 crore in Q4 FY24 over Q4 FY23.

The scrip hit an 52-week high at Rs 152 in intraday today. 

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