Gammon India surges on order Rs 1,710 crore from NHAI

The order is for four-laning of Udhampur to Ramban Section of NH-1A in J&K worth Rs 1,710 crore

Shares of Gammon India surged over 10% to Rs 12.50 on the Bombay Stock Exchange after the company announced that it has received a huge order from the National Highways Authority of India (NHAI).

The company has secured an engineering, procurement and construction order for four laning of Udhampur to Ramban Section of NH-1A in the State of Jammu & Kashmir under NHDP Phase-II, the company said in a release.

The project is valued at Rs 1,709.99 crore, the release added.

The stock opened at Rs 12.22 and touched a high of Rs 13.15. At 12:10PM, over 2.4 million shares were traded on both the stock exchanges.