Gammon India spurts after new order win

Gammon India surged 10.62% to Rs 16.15 at 12:21 IST on BSE after the company won a new order Rs 869.99 crore order from National Highways Authority of India.

The announcement was made after market hours yesterday, 17 August 2016.

Meanwhile, the S&P BSE Sensex was up 144.33 points or 0.52% at 28,149.70

On BSE, so far 4.07 lakh shares were traded in the counter as against average daily volume of 2.20 lakh shares in the past one quarter. The stock hit a high of Rs 16.95 and low of Rs 15.80 so far during the day. The stock had hit a 52-week high of Rs 21.50 on 6 January 2016. The stock had hit a 52-week low of Rs 10.35 on 30 March 2016. The stock had underperformed the market over the past 30 days till 17 August 2016, falling 10.98% compared with 0.78% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 28.63% as against Sensex's 10.26% rise.

The small-cap company has equity capital of Rs 73.91 crore. Face value per share is Rs 2.

Gammon India bagged a highway project worth Rs 869.99 crore in Karnataka from National Highways Authority of India. It is engineering, procurement, construction (EPC) contract.

Gammon India reported net profit of Rs 53.38 crore in the quarter ended 31 March 2016 compared with net loss of Rs 73.53 crore in the quarter ended 31 March 2015. Total income rose 13.9% to Rs 1230.29 crore in the quarter ended 31 March 2016 over the quarter ended 31 March 2015.

Gammon India is one of the leading construction companies, diversified into infrastructure management, transmission lines and power sector

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