Gayatri Projects spurts about 10% in six sessions

Gayatri Projects rose 1.38% to Rs 696.20 at 14:20 IST on BSE, extending recent gains amid good buying support.

Meanwhile, the BSE Sensex was down 312.77 points, or 1.09%, to 28,355.45.

On BSE, so far 4,267 shares were traded in the counter, compared with average daily volume of 3,440 shares in the past one quarter. The stock hit a high of Rs 709 and a low of Rs 690.55 so far during the day. The stock hit a record high of Rs 790 on 23 September 2016. The stock hit a 52-week low of Rs 465 on 29 September 2015. The stock had underperformed the market over the past 30 days till 23 September 2016, falling 1.75% compared with 2.99% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.06% as against Sensex's 8.60% rise.

The small-cap company has equity capital of Rs 35.45 crore. Face value per share is Rs 10.

Shares of Gayatri Projects have risen 9.59% in six trading sessions from its close of Rs 635.25 on 15 September 2016.

The stock rose 1.65% in 686.70 on Friday, 23 September 2016, after the company said it secured a Rs 1255 crore contract in a joint venture with Russian construction company PTPS. The contract is for rehabilitation and upgradation of four laning of a highway in Odisha on engineering, procurement, and construction (EPC) mode. The announcement was made during market hours on Friday, 23 September 2016.

Gayatri Projects' net profit jumped 50.83% to Rs 16.35 crore on 5.73% growth in total income to Rs 432.44 crore in Q1 June 2016 over Q1 June 2015.

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, and a special focus on road and irrigation projects.

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