Gayatri Projects zooms on bagging contract worth Rs 306 crore

30 Jun 2016

Gayatri Projects is currently trading at Rs 640.00, up by 17.70 points or 2.84% from its previous closing of Rs. 622.30 on the BSE.

The scrip opened at Rs. 625.45 and has touched a high and low of Rs. 649.65 and Rs. 622.05 respectively. So far 7498 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 769.20 on 24-Dec-2015 and a 52 week low of Rs. 260.80 on 30-Jun-2015.

Last one week high and low of the scrip stood at Rs. 640.00 and Rs. 557.00 respectively. The current market cap of the company is Rs. 2290.45 crore.

The promoters holding in the company stood at 47.48%, while Institutions and Non-Institutions held 41.35% and 11.17% respectively.

Gayatri Projects has bagged a contract worth Rs 306 crore for the four laning of a highway on the Andhra Pradesh-Tamil Nadu border from the Ministry of Road Transport & Highways (NHDP-IVA Cell). This contract is on an EPC (Engineering, Procurement & Construction) basis, which furthers the management's plan to adopt an asset-light model, and reinforces the company’s position as one of India's top highway builders.

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, primarily undertaking road and irrigation projects.

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