Gammon India is currently trading at Rs. 12.60, up by 0.51 points or 4.22% from its previous closing of Rs. 12.09 on the BSE.
The scrip opened at Rs. 12.50 and has touched a high and low of Rs. 12.56 and Rs. 12.50 respectively. So far 2,623 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 36.75 on 19-Nov-2014 and a 52 week low of Rs. 10.75 on 10-Sep-2015.
Last one week high and low of the scrip stood at Rs. 12.65 and Rs. 11.24 respectively. The current market cap of the company is Rs. 169.85 crore.
The promoters holding in the company stood at 34.99%, while Institutions and Non-Institutions held 14.34% and 50.68% respectively.
Gammon India has received an approval for transfer of its Civil EPC undertaking -- Civil Engineering, Procurement and Construction business carried on by the company in roads, hydro-power, nuclear power, tunnels, bridges, buildings, cooling towers, chimneys and other sectors as a going concern, which shall include all the properties, rights and powers and all debts, liabilities, duties and obligations comprised in/and pertaining to Gammon Retail Infrastructure, the company’s wholly owned subsidiary. The board of directors at their meeting held on November 17, 2015 has approved for the same.
The carve out of the Civil EPC business with the resultant debt, plant and machinery, properties, employees, projects and all other liabilities is to enable potential equity investors to invest in the Civil EPC business. The board is also evaluating proposals from potential investors for its Civil EPC Business.
Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.
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