Niraj Cement shares soar 16%, GPT Infraprojects up 13%; Key triggers here

Shares of GPT Infraprojects, Niraj Cement Structurals and Seamec rose on Friday after the companies announced fresh order wins

Shares of GPT Infraprojects Ltd., Niraj Cement Structurals Ltd., and Seamec Ltd. rallied on Friday after the respective companies reported order wins, boosting the sentiment for the stocks. 

 

GPT Infraprojects shares rallied 13.4 per cent to ₹121.4 per share, the steepest intraday gain since October 27 this year. Meanwhile, the counters of Niraj Cement and Seamec rose 16.7 per cent and 1.3 per cent, respectively. 

 

As of 10:45 AM, GPT Infra shares were up 6.3 per cent, while Niraj Cement and Seamec were higher by 8.5 per cent and 0.5 per cent. At the same time, the Nifty50 index was up by 0.60 per cent. 

 

So far this year, share of GPT Infra, Niraj Cement and Seamec were down by 19 per cent, 47 per cent and 15 per cent, respectively. 

GPT Infra JV bags contracts worth ₹1,804.5 crore

GPT Infraprojects said it has secured a contract worth ₹1,804.48 crore from the Municipal Corporation of Greater Mumbai for the construction of a flyover along LBS Marg in Mumbai.

 

The company said the project has been awarded to a joint venture, in which GPT Infraprojects holds a 26 per cent stake. Its share of the contract value stands at ₹469.16 crore.

 

The project involves the construction of a flyover from Kalpana Talkies in Kurla (L Ward) to Pankhe Shah Dargah in Ghatkopar West (N Ward) in the eastern suburbs of the city. The contract has been awarded by a domestic entity and is to be executed over a period of 36 months, excluding the monsoon season.

Niraj Cement JV bags ₹322.3 crore highway project 

Niraj Cement Structurals, through a joint venture, has received a work order from the Ministry of Road Transport and Highways for the four-laning of the Ponda–Bhoma section of National Highway 748 in Goa.

 

The project involves upgrading the stretch from kilometre 125.440 to kilometre 135.050 on an engineering, procurement and construction basis. The contract is valued at ₹322.27 crore 

Seamec awards $3.25 million offshore services contract 

Seamec said it has awarded a Letter of Award to Adsun Offshore Diving Contractors Pvt. Ltd. for providing diving-related services onboard vessel Seamec III. 

 

The contract pertains to the Part Replacement Pipeline Project, Pipeline Replacement Project - Group A (PRP-VIII A), and the DSF II Project of Oil and Natural Gas Corporation. The lump-sum contract value is approximately $3.25 million, the exchange filing said.