Gammon Infra hits the roof

Gammon Infrastructure Projects was locked in 20% upper circuit at Rs 12.82 at 09:21 IST on BSE after one of the joint venture SPV of the company accepted the Mumbai Port Trust proposal for alternative use of the Offshore Container Terminal.

The announcement was made after market hours yesterday, 29 June 2015.

Meanwhile, the S&P BSE Sensex was up 66.54 points or 0.24% at 27,711.69

On BSE, so far 1.25 lakh shares were traded in the counter as against average daily volume of 1.18 lakh shares in the past one quarter.

The stock hit a high of Rs 12.82 and a low of Rs 11 so far during the day. The stock had hit a 52-week high of Rs 20.85 on 20 November 2014. The stock had hit a 52-week low of Rs 9.05 on 12 June 2015.

The small-cap company has equity capital of Rs 188.33 crore. Face value per share is Rs 2.

Gammon Infrastructure Projects after market hours yesterday, 29 June 2015 said that Indira Container Terminal Private (ICTPL), one of the joint venture SPV of the company, has accepted the Mumbai Port Trust (MbPT) proposal for alternative use of the Offshore Container Terminal for Roll-on/Roll-off operations, i.e. operations of providing facilities to the importers and exporters of automobiles and self propelled equipment, for a period of one year from the date of operation with revenue share of 45% to ICTPL and 55% to MbPT.

Gammon Infrastructure Projects reported a consolidated net profit of Rs 7.38 crore in the quarter ended 31 March 2015 as compared to net loss of Rs 40.56 crore in the quarter ended 31 March 2014. Net sales rose 1.12% to Rs 208.01 crore in the quarter ended 31 March 2015 over the quarter ended 31 March 2014.

Gammon Infrastructure Projects 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.

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