Gayatri Projects gained 2.34% to Rs 231.70 at 13:00 IST on BSE after the company announced bagging a new order of Rs 583 crore contract from National Highways Authority of India.
The announcement was made during market hours today, 1 January 2018.Meanwhile, the S&P BSE Sensex was down 39.66 points or 0.12% at 34,017.17. The S&P BSE Mid-Cap index was up 132.87 points or 0.75% at 17,955.27, outperforming the Sensex.
On the BSE, 27,650 shares were traded on the counter so far as against the average daily volumes of 70,324 shares in the past one quarter. The stock had hit a high of Rs 234.50 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 227 so far during the day. The stock had hit a 52-week low of Rs 123.48 on 29 December 2016.
The mid-cap company has equity capital of Rs 35.45 crore. Face value per share is Rs 2.
The contract entails rehabilitation and upgradation of Cuttack-Angul section of NH-42 (NEW NH-55) to 4-lane in Odisha under NHDP Phase-III on engineering, procurement and construction (EPC) mode, pkg-1.
The project is an addition to the recent project won by the company on 20 December 2017 worth Rs 1139 crore in joint Venture with Public Joint Stock Company ' Kyivmetrobud' i.e Gayatri-KMB (JV), from National Highways Authority of India under Bharatmala centrally-sponsored and funded road and highways project of the Government of India.
Gayatri Projects' net profit jumped 104% to Rs 23.71 crore on 20.9% rise in net sales to Rs 423.18 crore in Q2 September 2017 over Q2 September 2016.
Gayatri Projects in a Hyderabad-based infrastructure and construction company specializing in road, irrigation, power transmission and industrial projects with a pan India presence.
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