Bonus issue to be considered by this infra stock next week; shares surge

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GPT Infraprojects’ board will meet next week on Tuesday, September 27, 2022 to consider the issue of bonus equity shares of the company. Shares of GPT Infra surged about 2% on the BSE to 131 apiece in Wednesday’s early trading session.

“The board of directors of the company is scheduled to be held on Tuesday, 27th September, 2022 at 10.30 a.m. at the Registered Office of the Company through Video Conferencing (VC), inter-alia, to consider and approve among other matters the issuance of bonus equity shares of the company,” the company informed in an exchange filing on Tuesday. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Further, the company said that the date of the board meeting of the company for consideration and approval of Financial Results for the 2nd quarter and half year ended September 30, 2022 will be intimated in due course. 

GPT Infraprojects is the flagship company of the GPT Group. Headquartered in Kolkata, India, GPT Infraprojects operates primarily from two divisions – the Sleeper Division and the Infrastructure Division. The infra stock is up about 47% in 2022 (YTD) so far.

The infrastructure division of the company is involved in a variety of civil construction projects for infrastructure works such as railways, roads, airports, irrigation, and urban infrastructure. The Sleepers Division is involved in the manufacture of concrete sleepers and transfer of concrete sleeper technology for railways systems in India and abroad. The Panagarh unit of the company is approved by Research, Design and Standards Organisation (RDSO), Ministry of Railways, India.

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