GMR Power and Urban Infra Ltd (NSE: GMRP&UI) Shares: The shares of GMR power and urban infra Ltd have rallied 15.39% in the last 5 trading sessions and 32.06% in the last one month. On NSE, the shares of this company reached an all-time high of Rs 97.50 however, it hit a lower circuit later and closed at Rs 89.67, down by 5% on Friday, June 21.
GMR Power and Urban Infra subsidiary bagged a huge deal from electricity companies. The contract will be completed by partnering with Bosch global software technologies (BGSW) to launch a smart smart meter installation project. Because of this deal, investors showing interest in the shares due to which stock price has surged to record high. Check more details below.
What is the Deal?
GMR power and infra informed the stock exchange regarding a huge deal. The company stated that it has secured a huge smart meter installation initiative fromPurvanchal Vidyut Vitran Nigam Limited (PUVNL) and Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL). The contract includes installation and maintenance of 7.6 Million Smart meters across various zones.
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GMR smart electricity distribution private limited (GSEDPL) has partnered with Bosh global software technologies to accomplish the project. According to the recent filing, the company stated that they will use 3 Special purpose vehicles (SPV’s) to complete the huge project.
Bosh global software will take responsibility for design and advanced smart metering technology. In return, Bosh has proposed to purchase equity of 10% stake in SPV’s and the remaining 90% stake will be retained by GSEDPL.
GMR Power and Urban Infra Share Condition and Price History
GMR Power and Urban Infra share closed at Rs 89.67 with 5% decline on Friday, June 21. During the trading session, it reached an all-time high of Rs 97.50 while its 52-week low is Rs 17 respectively.
The shares of GMRP&UI have gained 65.29% YTD but it has given a huge return of 413.87% so far in the last one year. Â
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