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Gammon India soars on plan to sell 52.80 crore equity shares of Gammon Infrastructure Projects

22 Aug 2014

Gammon India is currently trading at Rs. 32.25, up by 0.85 points or 2.71% from its previous closing of Rs. 31.40 on the BSE.

The scrip opened at Rs. 31.50 and has touched a high and low of Rs. 32.50 and Rs. 31.50 respectively. So far 45116 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. 34.00 and Rs. 30.85 respectively. The current market cap of the company is Rs. 436.80 crore.

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

Gammon India has received an approval for sale of 52.80 crore equity shares held by the company in its subsidiary viz. Gammon Infrastructure Projects to its another subsidiary viz. Gammon Power, subject to all the necessary approvals. The board of directors at its meeting held on August 21, 2014 has approved for the same.

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

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