Gayatri Projects rises on bagging order worth Rs 340 crore

Gayatri Projects is currently trading at Rs. 590.20, up by 3.25 points or 0.55% from its previous closing of Rs. 586.95 on the BSE.

The scrip opened at Rs. 581.85 and has touched a high and low of Rs. 599.20 and Rs. 579.35 respectively. So far 4928 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 769.20 on 24-Dec-2015 and a 52 week low of Rs. 141.00 on 27-Apr-2015.

Last one week high and low of the scrip stood at Rs. 602.05 and Rs. 516.05 respectively. The current market cap of the company is Rs. 2073.85 crore.

The promoters holding in the company stood at 47.48% while Institutions and Non-Institutions held 41.48% and 11.04% respectively.

Gayatri Projects has secured Rs 340 crore contract for the four laning of a highway from Dimapur to Kohitna in the North-east state of Nagaland from the National Highways and Infrastructure Development Corporation (NHIDCL) and the Ministry of Road Transport and Highways (MoRTH).

This contract is to be executed on an EPC (Engineering, Procurement & Construction) basis, which is in line with the management’s decision to take up an asset - light model for the company. In last 12 months, the company’s order book has nearly doubled to Rs 10,000 crore on a robust inflow of orders, all of which have been through the EPC model.

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, primarily undertaking road and irrigation projects.