Gammon Infrastructure Projects is currently trading at Rs. 5.05, up by 0.14 points or 2.85% from its previous closing of Rs. 4.91 on the BSE.
The scrip opened at Rs. 4.93 and has touched a high and low of Rs. 5.10 and Rs. 4.82 respectively. So far 1,05,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 16.00 on 16-Apr-2015 and a 52 week low of Rs. 3.81 on 12-Feb-2016.
Last one week high and low of the scrip stood at Rs. 5.14 and Rs. 4.71 respectively. The current market cap of the company is Rs. 475.59 crore.
The promoters holding in the company stood at 58.44% while Institutions and Non-Institutions held 27.88% and 13.68% respectively.
Gammon Infrastructure Projects has completed sale of 3 SPVs, being wholly-owned non-material subsidiaries of the company - Patna Buxar Highways (PBHL); Pataliputra Highway and Mormugao Terminal (MTL) with a view to rationalize its SPVs structure for an aggregate consideration of Rs 30 lakh, approved by the board of directors by way of resolution passed by circulation on March 31, 2016.
These SPVs currently do not have any scope of future activity other than litigation with the clients, in case of PBHL and MTL, for realization of claims / compensation for unilateral termination of the projects. The company has retained the rights to future claims pending under arbitration which are uncertain and contingent in case of PBHL and MTL.
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.
