Gayatri Projects spurts after securing multiple orders worth Rs 3318 crore

Gayatri Projects rose 4.27% to Rs 432 at 12:48 IST on BSE after the company won multiple orders worth Rs 3318 crore from the National Highways Authority of India.

The company made the announcement during market hours today, 26 August 2015.

Meanwhile, the S&P BSE Sensex was down 143.13 points or 0.55% at 25,889.25

On BSE, so far 25,030 shares were traded in the counter as against average daily volume of 42,467 shares in the past one quarter.

The stock hit a high of Rs 450 and low of Rs 390 so far during the day. The stock had hit a 52-week high of Rs 478 on 19 August 2015. The stock had hit a 52-week low of Rs 128.15 on 2 September 2014.

The stock had outperformed the market over the past one month till 25 August 2015, gaining 9.26% compared with 7.4% fall in the Sensex. The stock also outperformed the market in past one quarter, surging 94.96% as against Sensex's 5.83% decline.

The small-cap infrastructure company has equity capital of Rs 33.83 crore. Face value per share is Rs 10.

Gayatri Projects secured two orders aggregating to Rs 1526 crore for four laning of Ghaghra Bridge to Varanasi section of NH-233 in the state of Uttar Pradesh under the National Highways Development Project (NHDP) Phase - IV on engineering, procurement, construction (EPC) mode. The company won another two orders aggregating to Rs 1792 crore for four laning of Sultanpur to Varanasi section of NH-56 on EPC mode.

The company has also recently bagged order worth Rs 675 crore from NHAI for six laning of Eastern Peripheral Expressway in state of Haryana and Uttar Pradesh, Gayatri Projects said. The company's unexecuted order book as of today exceeds Rs 10000 crore, it added.

Gayatri Projects' net profit jumped 377.2% to Rs 10.69 crore on 19.4% growth in total income to Rs 409 crore in Q1 June 2015 over Q1 June 2014.

Gayatri Projects undertakes civil construction work such as construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports and ports.

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