Gammon India rose 0.86% at Rs 17.60 at 12:17 IST on BSE, with the stock recovering on bargain hunting after recent slide.
Meanwhile, the S&P BSE Sensex was unchanged at 26,078.78.
On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 1.91 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 1.71% at the day's high of Rs 17.75 so far during the day. The stock lost as much as 1.14% at the day's low of Rs 17.25 so far during the day. The stock had hit a 52-week high of Rs 30 on 5 January 2015. The stock had hit a 52-week low of Rs 10.75 on 10 September 2015.
The stock had underperformed the market over the past one month till 29 December 2015, sliding 8.59% compared with Sensex's 0.19% fall. The scrip had, however, outperformed the market in past one quarter, advancing 41.52% as against Sensex's 1.17% rise.
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The small-cap company has equity capital of Rs 27.30 crore. Face value per share is Rs 2.
Shares of Gammon India had fallen 6.68% in prior three trading sessions to settle at Rs 17.45 yesterday, 29 December 2015, from a recent high of Rs 18.70 on 23 December 2015.
Gammon India during market hours yesterday, 29 December 2015 announced that the securities allotment committee of directors at its meeting held yesterday, 29 December 2015, had allotted 15.10 crore equity shares at a price of Rs 11.89 per share aggregating to Rs 179.60 crore to eleven corporate debt restructuring (CDR) lenders on conversion of part of their outstanding loan and interest into equity shares of the company under strategic debt restructuring (SDR) package. With this allotment, the CDR lenders collectively hold 52.55% of the total equity capital of Gammon India.
Gammon India's net profit rose 39.4% to Rs 504.20 crore on 95.1% growth in net sales to Rs 1761.81 crore in the quarter ended 30 September 2015 over the quarter ended 30 September 2014.
Gammon India is one of the largest contractor and developer of infrastructure projects in India. The company operates in four major areas -- engineering, procurement and construction (EPC), construction business, infrastructure development business and international business and also has overseas presence in Europe and Africa apart from India.
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