Gammon India touches the roof as HDFC Mutual Fund increased its stake to 6.31%

30 Jul 2014

Gammon India is currently trading at its upper circuit limit of Rs. 28.75, up by 1.35 points or 4.93% from its previous closing of Rs. 27.40 on the BSE.

The scrip opened at Rs. 27.70 and has touched a high and low of Rs. 28.75 and Rs. 27.70 respectively. So far 18857 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. 29.10 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.

HDFC Mutual Fund has bought more than 85 lakh shares in Gammon India for Rs 23.35 crore taking its holding in the infrastructure firm to 6.31%. The purchase of 85,30,764 shares aggregating 6.25% stake was done at an average price of Rs 27.38 per share. The company’s promoters held 34.99% stake in Gammon India as on June-end.

Recently, Bajaj Allianz Life Insurance Company 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.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323