Gayatri Projects shines as its arm inks multi-year coal supply contract

24 Feb 2012

Gayatri Projects is currently trading at Rs. 143.00, up by 2.00 points or 1.42% from its previous closing of Rs. 141.00 on the BSE.

The scrip opened at Rs. 145.30 and has touched a high and low of Rs. 145.30 and Rs. 141.05 respectively. So far 9818 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 212.09 on 07-Apr-2011 and a 52 week low of Rs. 75.58 on 23-Dec-2011.

Last one week high and low of the scrip stood at Rs. 168.55 and Rs. 138.00 respectively. The current market cap of the company is Rs. 342.29 crore.

The promoters holding in the company stood at 54.99% while Institutions and Non-Institutions held 17.72% and 27.29% respectively. 

Thermal Powertech Corporation (India) (TPCIL), a subsidiary of Gayatri Projects has signed an agreement with PT Bayan Resources Tbk for the supply of 1 million tonnes of coal per year for over 10 years. The arrangement for coal supply is expected to commence in 2014. Gayatri Projects owns 51% stake through its wholly owned subsidiary Gayatri Energy Ventures in TPCIL, while, Sembcorp owns 49% stake in TPCIL through its wholly owned subsidiary, Sembcorp Utilities.

With plant construction processing on track at the project site in Krishnapatnam in Andhra Pradesh’s SPSR Nellore district, this coal agreement marks yet another significant milestone for Sembcorp’s first Indian power plant project, a 1320 megawatt coal fired power plant. Following the signing of this agreement, TPCIL has secured almost half of the plant’s requirement for imported coal.

Gayatri Projects (GPL), an ISO 9001 - 2000 company, is one of the fastest growing construction companies in India executing major civil works including construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports, ports, etc.

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