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Gammon Infrastructure trades jubilantly on acquiring 24% stake in ICTPL

07 Apr 2017 Evaluate

Gammon Infrastructure Projects is currently trading at Rs. 5.06, up by 0.76 points or 17.67% from its previous closing of Rs. 4.30 on the BSE.

The scrip opened at Rs. 4.39 and has touched a high and low of Rs. 5.08 and Rs. 4.35 respectively. So far 1091980 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 6.39 on 07-Jul-2016 and a 52 week low of Rs. 3.41 on 01-Feb-2017.

Last one week high and low of the scrip stood at Rs. 5.08 and Rs. 4.03 respectively. The current market cap of the company is Rs. 474.68 crore.

The promoters holding in the company stood at 58.44%, while institutions and non-institutions held 22.97% and 18.59% respectively.

Gammon Infrastructure Projects has acquired 24,375,840 equity shares of face value of Rs 10 each of Indira Container Terminal (ICTPL), being 24% of total paid up capital of ICTPL for an aggregate consideration of Rs 15 crore. With this acquisition, ICTPL has become subsidiary of the company with increased shareholding from 50% to 74% in the paid up equity share capital of ICTPL.

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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