Gammon Infra gains after receiving new order

The announcement was made during trading hours today, 12 December 2012.

Meanwhile, the BSE Sensex was down 31.08 points, or 0.16%, to 19,356.06.

On BSE, 86,000 shares were traded in the counter as against an average daily volume of 74,601 shares in the past one quarter.

The stock hit a high of Rs 14.70 and a low of Rs 13.70 so far during the day. The stock had hit a 52-week high of Rs 18.05 on 10 February 2012. The stock had hit a 52-week low of Rs 9.21 on 20 December 2011.

The stock had underperformed the market over the past one month till 11 December 2012, falling 2.12% compared with the Sensex's 3.77% rise. The scrip had, however, outperformed the market in past one quarter, rising 11.52% as against Sensex's 8.59% rise.

The small-cap company has an equity capital of Rs 145.75 crore. Face value per share is Rs 2.

Gammon Infrastructure Projects said it received a letter of award for the project of providing mechanised handling facilities for handling coal at Berth no 11 at Port of Mormugao in Goa on design, build, finance, operate, transfer (DBFOT) basis from the Mormugao Port Trust. The project will have a minimum capacity of 2.33 million metric tonne per annum.

The project cost, as estimated by Mormugao Port Trust, is Rs 204.04 crore. The concession period of the project is 30 years, including a construction period of 2 years, the company said in a statement.

On a consolidated basis, Gammon Infrastructure Projects reported a net profit of Rs 5.66 crore in Q2 September 2012 compared with a net loss of Rs 8.96 crore in Q2 September 2011. Net sales rose 59% to Rs 142.45 crore in Q2 September 2012 over Q2 September 2011.

Gammon Infrastructure Projects (GIPL) is an infrastructure project development company incorporated by Gammon India, to participate in the development of infrastructure projects on a public private partnership (PPP) basis. GIPL undertakes infrastructure projects on PPP basis across sectors such as roads & expressways, ports, hydropower, urban infrastructure, airports, special economic zones, water and waste water management, railways, power transmission lines, and agricultural infrastructure.

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