Gammon India shares zoom over 16% on bagging road project

Shares of construction and engineering major Gammon India surged over 16 per cent today as the company has bagged a Rs 1,708 crore project from the central government for widening of an important stretch of National Highways in Jammu & Kashmir.
Gammon India's scrip zoomed 16.26 per cent to Rs 13.15 at the BSE.
On the NSE, it rallied 15.41 per cent to Rs 13.10.
The company has secured a Rs 1,709.99 crore project from National Highways Authority of India (NHAI) for widening of Udhampur to Ramban section of NH 1A in Jammu & Kashmir, Gammon India had said in a filing to the BSE on Thursday.

Stock markets were closed on Friday for "Bakr Id".
The contract has been awarded under phase II of the National Highways Development Project (NHDP).
Gammon India, one of the largest contractor and developer of infrastructure projects in India, operates in four major areas - engineering, procurement and construction, construction business, infrastructure development business and and international business.