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Gammon Infra surges as its SPV commences tolling at ‘Rajahmundry Godavari Bridge Road’ project

02 Nov 2015 Evaluate

Gammon Infrastructure Projects is currently trading at Rs. 7.55, up by 0.08 points or 1.07% from its previous closing of Rs. 7.47 on the BSE.

The scrip opened at Rs. 7.47 and has touched a high and low of Rs. 7.60 and Rs. 7.47 respectively. So far 19140 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. 7.40 on 29-Oct-2015.

Last one week high and low of the scrip stood at Rs. 8.00 and Rs. 7.40 respectively. The current market cap of the company is Rs. 703.42 crore.

The promoters holding in the company stood at 58.45% while Institutions and Non-Institutions held 25.83% and 15.72% respectively.

Gammon Infrastructure Projects’ SPV has commenced tolling operations at the ‘Rajahmundry Godavari Bridge Road’ project toll booth with effect from November 01, 2015, the Commercial Operation Date, approved by the competent authority. Rajahmundry Godavari Bridge is special Purpose Vehicle (SPV) of Gammon Infrastructure Projects where it holds 71.43% stake.

This project under the said SPV is for design, construction, operation and maintenance of a 4.15 kms long four-lane bridge, which will connect Kovvur and Rajahmundry in Andhra Pradesh across the Godavari River, with 10.34 kms of approach roads. The said SPV has commenced the tolling operations in compliance with the Concession Agreement requirement.

Gammon Infrastructure Projects 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.

 

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