Gammon India soars as Bajaj Allianz buys 15 lakh shares of the company

25 Jul 2014 Evaluate

Gammon India is currently trading at Rs. 28.50, up by 1.00 points or 3.64% from its previous closing of Rs. 27.50 on the BSE.

The scrip opened at Rs. 28.45 and has touched a high and low of Rs. 28.85 and Rs. 28.30 respectively. So far 599953 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 38.50 on 12-Jun-2014 and a 52 week low of Rs. 8.15 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 29.90 and Rs. 26.85 respectively. The current market cap of the company is Rs. 392.44 crore.

The promoters holding in the company stood at 34.99% while Institutions and Non-Institutions held 26.20% and 38.81% respectively.

Bajaj Allianz Life Insurance Company has bought 15 lakh shares of Gammon India through open market route. The shares were purchased on an average price of Rs 27.30 valuing the transaction to Rs 40.95 crore. Besides, HDFC Mutual Fund has bought 878,918 shares of the company at Rs 27.50 on the BSE and 7,621,000 shares at Rs 27.30 on the NSE.

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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