1. Gayatri Projects shares surge over 4% on bagging Rs 306 crore contract

Gayatri Projects shares surge over 4% on bagging Rs 306 crore contract

Gayatri Projects shares surged over 4 per cent after Hyderabad-based infrastructure and construction company bagged a contract worth Rs 306 crore for the four laning of a highway on the Andhra Pradesh-Tamil Nadu border.

By: | Updated: June 30, 2016 4:08 PM
Sensex Nifty stocks in focus Gayatri Projects shares surged over 4 per cent after Hyderabad-based infrastructure and construction company bagged a contract worth Rs 306 crore for the four laning of a highway on the Andhra Pradesh-Tamil Nadu border.(Reuters)

Gayatri Projects shares surged over 4 per cent on Thursday after Hyderabad-based infrastructure and construction company bagged a contract worth Rs 306 crore for the four laning of a highway on the Andhra Pradesh-Tamil Nadu border.

At 2.17 pm, shares of the company were trading 2.04 per cent up at Rs 635. The scrip opened at Rs 625.45 and has touched a high and low of Rs 649.65 and Rs 622.05, respectively, in trade so far. Later, the scrip closed 1.09 per cent up at Rs 629.10.

The BSE group ‘B’ stock of face value Rs 10 has touched a 52-week high of Rs 769.20 on December 24, 2015 and a 52-week low of Rs. 260.80 on Jun 30, 2015.

Last one week high and low of the scrip stood at Rs 640.00 and Rs 557.00 respectively. The current market cap of the company is Rs 2290.45 crore.

The promoters holding in the company stood at 47.48 per cent, while Institutions and Non-Institutions held 41.35per cent and 11.17 per cent respectively.

“Gayatri Projects has bagged a contract worth Rs 306 crore for the four laning of a highway on the Andhra Pradesh-Tamil Nadu border from the Ministry of Road Transport & Highways (NHDP-IVA Cell). This contract is on an EPC (Engineering, Procurement & Construction) basis, which furthers the management’s plan to adopt an asset-light model, and reinforces the company’s position as one of India’s top highway builders,” the company said in a BSE filing.

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