Shares of GMR Power and Urban Infra were locked in the 10 per cent upper circuit at Rs 36.59 on the BSE in Wednesday’s intra-day trades as of 11:39 AM; after the GMR Group received Letter of Intent (LOA) for a smart metering project worth of Rs 2,470 crore from Dakshinanchal Vidyut Vitran Nigam Limited.
A combined 15.67 million equity shares changed hands and there were pending buy orders for 1.5 million shares on the NSE and BSE.
In an exchange filing, GMR Power said its subsidiary GMR Smart Electricity Distribution Private Limited (GSEDPL) has received LOA from Dakshinanchal Vidyut Vitran Nigam Limited to implement smart metering project in the Dakshinanchal (Agra, and Aligarh zone) area of Uttar Pradesh.
