Gammon India gets advantage of new order on bourses

Gammon India is currently trading at Rs 249.55, up by 10.70 points or 4.48% from its previous closing of Rs 238.85 on the BSE. The scrip opened at Rs 242 and has touched a high of Rs 252 with low remaining its opening. So far 28064 shares were traded on the counter. The BSE group ‘B’ CG sector stock of face value Rs 2 has touched a 52 week high of Rs 255 on October 12, 2009 and a 52 week low of Rs 46.70 on December 4, 2008. The BSE CG index is currently trading at 13,429.56, marginally down by 0.07% from its previous closing. The scrip price has witnessed upswings of 7.08% since last week and 8.97% since last month. Gammon India, in association with Pratibha Industries, has bagged a contract from the Bangalore Water Supply and Sewerage Board. The contract involves procurement, fabrication and laying of clear water main from Vajarahalli to HBR on the east of Bangalore. Gammon India will hold a controlling stake of 51% while Pratibha Industries will have a 49% stake in the project. The cost of the project is valued at Rs 309.46 crore. Gammon India is one of the leading infrastructure construction companies in India. The company has executed many civil engineering works from cotton godowns to bridges/flyovers, marine structures, cooling towers, chimneys, tunnels and dams in India and in the Middle-East.