Last Updated: September 21, 2023, 11:58 IST
The market cap of GMR Power has increased to Rs 2,794.04 crore.
On August 18, 2020, GMR Power’s share was at Rs 22.78. On September 18, 2023, the share price reached Rs 46.29.
GMR Power and Urban Infra Ltd has now turned into a multi-bagger stock after it reached its 52-week high in the trading session on Monday. The share price of this company closed at Rs 46.29, clocking 9.98 per cent higher than its previous close which was at Rs 42.09 at BSE.
This power stock has gained 147 per cent in three months and has risen 163 per cent in the last 6 months. GMR Power and Urban Infra Ltd is now one of the multi-bagger stocks which has given over 100 per cent return to its investors in the period of three years.
On August 18, 2020, GMR Power’s share was at Rs 22.78. On September 18, 2023, the share price reached Rs 46.29, hence it gave a 103 per cent return to its investors during this period. In comparison, Sensex also rose by 3.6 per cent in a month. Due to this, the market cap of the company has also increased to Rs 2,794.04 crore. Currently, GMR Power and Urban Infra share is trading at Rs 41.75 rupees on NSE. It was closed at the price of Rs 43.9 on Wednesday.
Apart from this, if the data of the stock prices is observed from the last 6 months, then an increase of around 157.77 per cent has been seen in this stock during that period. The value of the share has increased by Rs 26.90 in 6 months.
GMR Power has also announced that it has received orders worth Rs 2,470 crore in Uttar Pradesh. GMAR Smart Electricity Distribution Private Limited, a subsidiary of GMR Power has recently received the tender for Rs 7.69 lakh smart meters. It will be distributed in two zones of Purvanchal Vidyut Vitran Nigam, Varanasi. This is one of the reasons for the surge in the stock prices of this company.
Along with this, on September 4, shares hit an upper circuit of 20 per cent after the company’s unit reported an order worth more than Rs 5,000 crore by the UP government.
