Shares of GR Infraprojects Ltd surged over 3 percent in intraday trade on Wednesday, July 9, after the company received the appointed date for a significant highway development project under the Bharatmala Pariyojana. The project, awarded by the National Highways Authority of India (NHAI), pertains to the construction of a six-lane Greenfield highway connecting Varanasi, Ranchi, and Kolkata. The development triggered renewed investor interest in the stock, which had been under pressure in recent months.
Project Details: Scope and Timeline
The appointed date for the highway construction has been confirmed as July 1, 2025. GR Varanasi Kolkata Highway Private Limited—a wholly owned subsidiary of GR Infraprojects—received the official communication from NHAI on July 8, confirming commencement of the work. The project involves building a 33.50-kilometre stretch of road from Anarbansalea village to Sagrampur village, specifically from KM 151+200 to KM 184+700.
This project is a part of the government’s ambitious Bharatmala Pariyojana programme and will be implemented under the Hybrid Annuity Mode (HAM), identified as Package 7. The total contract is valued at ₹1,248.37 crore and is to be executed within 730 days from the appointed date. GR Infraprojects is expected to handle the engineering, procurement, and construction aspects, with payments split between annuity and government grants.
Strategic Importance and Market Sentiment
The construction of the six-lane Greenfield highway is expected to significantly improve connectivity in Bihar and surrounding regions, contributing to logistics efficiency, economic growth, and reduced travel time between key industrial corridors. As part of the government’s nationwide highway modernisation initiative, this project is seen as a high-value infrastructure milestone that reinforces GR Infraprojects’ order book and operational visibility.
Following the announcement, the company’s shares jumped 3.1 percent to an intraday high of ₹1,290.30. The rally reflects renewed optimism around execution visibility and earnings potential, especially after a difficult period for the stock over the past year.
Stock Performance Snapshot
Despite Wednesday’s bounce, GR Infraprojects shares remain far from their 52-week high of ₹1,835, which was touched in July 2024. The stock had hit its 52-week low of ₹902.05 in March 2025. Over the past 12 months, the stock has corrected nearly 30 percent, underperforming the broader market and sector indices.
In July so far, the stock is down about 3 percent after gaining 3 percent in June. May witnessed a strong 23 percent rally, providing some temporary relief following a 0.5 percent dip in April and a 4 percent gain in March. However, the earlier months of 2025 were marked by steep losses—21.5 percent in February and 13 percent in January—largely due to macro uncertainties and weak investor sentiment toward the infrastructure sector.
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