Gammon Infrastructure Projects gains as its arm receives provisional completion certificate

08 Sep 2016 Evaluate

Gammon Infrastructure Projects is currently trading at Rs 4.99, up by 0.11 points or 2.25% from its previous closing of Rs 4.88 on the BSE.

The scrip opened at Rs. 4.90 and has touched a high and low of Rs. 5.05 and Rs. 4.88 respectively. So far 357275 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 9.35 on 14-Sep-2015 and a 52 week low of Rs. 3.80 on 02-Jun-2016.

Last one week high and low of the scrip stood at Rs. 5.20 and Rs. 4.68 respectively. The current market cap of the company is Rs. 467.15 crore.

The promoters holding in the company stood at 58.44%, while Institutions and Non-Institutions held 26.19% and 15.37% respectively.

Patna Highway Projects (PHPL), a wholly owned subsidiary of Gammon Infrastructure Projects has been issued the Provisional Completion Certificate (COD), with effect from September 01, 2016. PHPL has been incorporated for implementing the project to build a 63.17 km long four lane dual carriageway on National Highway- 77 including a new bypass of 16.87 kms connecting National Highway - 28, in the State of Bihar on BOT (Annuity) basis.  PHPL is entitled to receive semi-annual annuities of Rs 94.60 crore each during the concession period of the project.

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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