Gayatri Projects zooms as its arm inks power purchase pact for 1320 MW power plant

18 Apr 2013

Gayatri Projects is currently trading at Rs. 76.30, up by 7.90 points or 11.55% from its previous closing of Rs. 68.40 on the BSE.

The scrip opened at Rs. 72.50 and has touched a high and low of Rs. 78.60 and Rs. 72.50 respectively. So far 6445 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 130.50 on 23-Oct-2012 and a 52 week low of Rs. 65.00 on 25-Mar-2013.

Last one week high and low of the scrip stood at Rs. 78.60 and Rs. 67.20 respectively. The current market cap of the company is Rs. 232.60 crore.

The promoters holding in the company stood at 50.32% while Institutions and Non-Institutions held 38.48% and 11.20% respectively.

Gayatri Projects’ subsidiary TPCIL has signed a power purchase agreement (PPA) with Andhra Pradesh Power Distribution Companies, wholly-owned by the government of Andhra Pradesh, for supply of 500 MW of competitive power to the Central, Eastern, Southern and Northern Power Distribution Companies of Andhra Pradesh for a period of 25 years.

This green field project within the state makes the transmission more convenient and the use of super critical technology is a value addition as this technology enhances efficiency, thereby reducing emission of carbon dioxide and other pollutants, making it more eco-friendly. As such, the plant, located in southern India (Krishnapatnam), will play an essential role in helping to mitigate Power shortage in the State of Andhra Pradesh when it commences operation.

Gayatri Projects, an ISO 9001 - 2000 company, is one of the fastest growing construction companies in India executing major civil works including construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports, ports, etc.

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