Gayatri Projects gains on getting nod to invest up to Rs 300 crore in subsidiary company

14 Nov 2011

Gayatri Projects is currently trading at Rs. 138.50, up by 0.65 points or 0.47% from its previous closing of Rs. 137.85 on the BSE.

The scrip opened at Rs. 138.80 and has touched a high and low of Rs. 141.95 and Rs. 137.00 respectively. So far 17102 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 417.40 on 15-Oct-2010 and a 52 week low of Rs. 130.50 on 19-Aug-2011.

Last one week high and low of the scrip stood at Rs. 151.80 and Rs. 137.00 respectively. The current market cap of the company is Rs. 165.27 crore.

The promoters holding in the company stood at 54.99% while Institutions and Non-Institutions held 17.71% and 27.29% respectively.

Gayatri Projects has received an approval to invest up to Rs 300 crore in its subsidiary company. The board at its meeting held on November 14, 2011 has approved for the same.

Recently, the company had received an approval to incorporate a wholly owned subsidiary (WOS) of the company under the name - 'Sai Maatarini Tollways' for executing project i.e. the four- laning of Panikoili-Rimull section of NH-215 from 0.000 Km to 163.000 Km in the state of Orissa.

Gayatri Projects (GPL), 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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