Gayatri Projects is currently trading at Rs. 61.75, up by 4.00 points or 6.93% from its previous closing of Rs. 57.75 on the BSE.
The scrip opened at Rs. 59.50 and has touched a high and low of Rs. 62.70 and Rs. 59.40 respectively. So far 8,823 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 101.85 on 05-Feb-2013 and a 52 week low of Rs. 47.50 on 21-Aug-2013.
Last one week high and low of the scrip stood at Rs. 60.00 and Rs. 55.65 respectively. The current market cap of the company is Rs. 186 crore.
The promoters holding in the company stood at 50.32% while Institutions and Non-Institutions held 35.12% and 14.56% respectively.
Gayatri Projects’ subsidiary - Gayatri Energy Ventures (GEVPL) and NCC Infrastructure Holdings (NCCIHL), wholly owned subsidiary of NCC, who jointly own NCC Power Projects (NCCPPL), is implementing the 1320 MW Coal Fired Power Project near Krishnapatnam, Nellore in state of Andhra Pradesh has entered into definitive agreements with Sembcorp Utilities (SCU), Singapore, wholly owned subsidiary of Sembcorp Industries, for divestment of 45% of the stake in NCCPPL.
Upon completion of the transaction, SCU will hold 45% stake of NCCPPL and the remaining 55% will be held by NCCIHL, which in turn will be jointly owned by NCC & GEVPL. The transaction with SCU is subject to the satisfaction of conditions precedent including approvals which are customary for a transaction of this size and nature. NCCPPL would enter into additional conditional agreements, which would give SCU right and obligation to acquire a further stake in the company of up to 20% subject to required approvals.
Capital Fortunes, Hyderabad, India, acted as the sole advisor to NCCPPL and its current shareholders - NCCIHL and GEVPL on this transaction. Capital Fortunes had also handled the Financial Closure in early 2012 for NCCPPL with project cost of over Rs 7,000 crore.
SCU is a leading developer, owner and operator of energy and water assets with strong operational and technical capabilities. SCU has over 5,900 MW of power capacity installed and under development and operates in 6 Continents with an established presence in Asia and a strong growing presence in emerging markets around the world.
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