Gayatri Projects rises on bagging order worth Rs 926 crore in Bihar

Gayatri Projects is currently trading at Rs. 698.00, up by 13.80 points or 2.02% from its previous closing of Rs. 684.20 on the BSE.

The scrip opened at Rs. 693.15 and has touched a high and low of Rs. 705.00 and Rs. 682.25 respectively. So far 1,632 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 790.00 on 23-Sep-2016 and a 52 week low of Rs. 482.00 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 705.00 and Rs. 620.00 respectively. The current market cap of the company is Rs. 2,481.53 crore.

The promoters holding in the company stood at 47.48%, while Institutions and Non-Institutions held 40.90% and 11.62% respectively.

Gayatri Projects has bagged Rs 926-crore highway road construction contract in the state of Bihar. The contract involves four-laning of Gaya-Hisua-Rajgir-Nalanda-Bhiarsharif section of NH-82. The company has won the contract from Bihar State Road Development Corporation (BSRDC) and the Ministry of Road Transport and Highways (MORTH).

The project is being funded by Japan International Cooperation Agency (JICA). In the last 18 months the company’s order book has more than doubled to over Rs 12,000 crore.

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