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Gammon Infrastructure gains on plan to buy-out 20% stake in Mumbai Nasik Expressway

28 Jan 2015 Evaluate

Gammon Infrastructure Projects is currently trading at Rs. 15.70, up by 0.50 points or 3.29% from its previous closing of Rs. 15.20 on the BSE.

The scrip opened at Rs. 15.90 and has touched a high and low of Rs. 16.00 and Rs. 15.55 respectively. So far 35,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 20.85 on 20-Nov-2014 and a 52 week low of Rs. 6.60 on 28-Feb-2014.

Last one week high and low of the scrip stood at Rs. 16.25 and Rs. 15.00 respectively. The current market cap of the company is Rs. 1,474.00 crore.

The promoters holding in the company stood at 58.67% while Institutions and Non-Institutions held 31.08% and 10.26% respectively.

Gammon Infrastructure Projects has received an approval to buy-out the 20% equity stake representing 1,03,99,500 equity shares of Rs 10 each held by Sadbhav Engineering from Mumbai Nasik Expressway at a cumulative price of Rs. 72 crore; subject to requisite approvals. The authorized committee of the board of directors of the company at their meeting have approved for the same.

Mumbai Nasik Expressway is the special purpose vehicle promoted by the company to develop, operate and manage the Vadape to Gonde section of the National Highway no.3 in the state of Maharashtra.

Gammon Infrastructure Projects (GIPL) is an infrastructure project development company incorporated by Gammon India, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.

AJR Infra and Toll Share Price

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Peers
Company Name CMP
Larsen & Toubro 3953.90
Rail Vikas Nigam 272.00
NCC 151.85
KEC International 563.95
Kalpataru Projects 1171.40
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