Gammon India was locked at 20% upper circuit at Rs 14.89 at 10:49 IST on BSE after the company reported net profit of Rs 53.38 crore in the quarter ended 31 March 2016 compared with net loss of Rs 73.53 crore in the quarter ended 31 March 2015.
The result was announced on Saturday, 18 June 2016.
Meanwhile, the S&P BSE Sensex was up 49.09 points or 0.18% at 26,675.
On BSE, so far 7.38 lakh shares were traded in the counter as against average daily volume of 1.05 lakh shares in the past one quarter. The stock hit a low of Rs 14.40 so far during the day. The stock had hit a 52-week high of Rs 21.80 on 4 August 2015. The stock had hit a 52-week low of Rs 10.35 on 30 March 2016. The stock had outperformed the market over the past one month till 17 June 2016, advancing 6.43% compared with Sensex's 3.31% rise. The scrip had, however, underperformed the market in past one quarter, gaining 1.97% as against Sensex's 7.9% rise.
The small-cap company has equity capital of Rs 73.91 crore. Face value per share is Rs 2.
Gammon India's net sales rose 9.4% to Rs 1115.08 crore in the quarter ended 31 March 2016 over the quarter ended 31 March 2015.
Gammon India is one of the leading construction companies, diversified into infrastructure management, transmission lines and power sector.
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