Gammon India shares surge over 16% on bagging Rs 870 cr road contract from NHAI

Gammon India shares surged over 16 per cent on Thursday after the infrastructure company bagged a civil Engineering, Procurement and Construction (EPC) order worth Rs 869.99 crore from National Highways Authority of India (NHAI) for widening of a highway in Karnataka under NHDP. The project Gammon India has won is for four laning of Hospet – Bellary – Karnataka / AP Border from Km.280.080 (Design Ch.) to Km.375.450 (Design Ch.), design length 98.370, NH-63 in the State of Karnataka under NHDP Phase-IVB on EPC mode.

Gammon India scrip was trading 10.27 per cent up at Rs 16.10at 10.09 am. The scrip opened at Rs 16 and has touched a high and low of Rs 16.95 and Rs 15.80, respectively, in trade so far. Sensex was trading 111.28 points up at 28,116.65 duirng the same time.

The BSE group ‘B’ stock of face value Rs 2 has touched a 52-week-high of Rs 21.50 on Jan 6, 2016 and a 52-week-low of Rs 10.35 on Mar 30, 2016.

The promoters holding in the company stood at 12.83 per cent, while Institutions and Non-Institutions held 67.86 per cent and 19.31 per cent, respectively.

Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.

National Highways Authority of India