Gammon Infra stock surges by 10.79%

May 16 2011, 18:06 IST
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SummaryWiping out some of its initial gains, Gammon Infrastructure stock settled up 4.83%.

Wiping out some of its initial gains, Gammon Infrastructure Projects stock settled at Rs 18.45, up 4.83 per cent from the previous close on the BSE. In intra-day, the scrip surged 10.79 per cent to touch a high of Rs 19.50.

On the National Stock Exchange, the stock ended 4.83 per cent higher at Rs 18.45.

Meanwhile, the BSE benchmark Sensex closed the day at 18,345.03, down 186.25 points.

earlier in the day, Gammon Infrastructure Projects stock jumped by nearly 11 per cent in morning trade on the bourses today after the company said its board will meet on May 19 to consider a rights issue of shares.

Following the move, the stock advanced by 10.79 per cent to touch an early high of Rs 19.50 on the Bombay Stock Exchange, while on the National Stock Exchange, it climbed by 10.79 per cent to touch a high of Rs 19.50.

In a filing to the stock exchange after market hours on Friday, Gammon Infra said its board of directors will meet on May 19 to consider a rights issue of shares as well as the declaration or passing over of a dividend by the company.

Meanwhile, the BSE benchmark Sensex was trading at 18,388.25, down 143.03 points, at 1133 hours.

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