Gammon India shares surge over 8% on NHAI order worth Rs 1,709.99 crore

By: | Updated: September 28, 2015 4:05 PM

Gammon India shares surged as much as 16.27% in the early trade on Monday after the company announced on Thursday that it has secured EPC project worth Rs 1,709.99 crore from NHAI.

Gammon IndiaGammon India shares surged as much as 16.27% in the early trade on Monday after the company announced on Thursday that it has secured EPC project worth Rs 1,709.99 crore from NHAI. (Photo: Reuters)

Gammon India shares surged over 8 per cent on Monday after the company announced on Thursday post market hours that it has secured the Engineering, Procurement & Construction (EPC) project worth Rs 1,709.99 crore from National Highways Authority of India (NHAI). The share price of the company closed 8.49 per cent up at Rs 12.27.

In a BSE filing, the company said, “The project is for four laning of Udhampur to Ramban Section of NH-1A in the state of Jammu & Kashmir under NHDP Phase-II.”

Last one week high and low of the scrip stood at Rs 12.98 and Rs 10.84, respectively. The current market capitalisation Gammon India is Rs 175 crore.

The promoters holding in the company stood at 34.99 per cent while institutions and non-institutions held 16.97 per cent and 48.04 per cent, respectively.

For the quarter ended June 2015, the company poste net loss of Rs 187.50 crore against net loss of Rs 120.27 crore in the corresponding quarter a year ago.

Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.

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