Gammon India surges on winning projects worth Rs 840 crore

The company has won two new projects worth Rs 840.45 crore

Shares of Gammon India surged nearly 18% at Rs 24.45 in early deals on the Bombay Stock Exchange after the infrastructure company annnounced that it has secured two new projects worth Rs 840.45 crore.

In first project, in the environment and pipeline sector, is for the channelization of Gomti River valued at Rs 516.73 crore, the company said in a release.

The second order is for the four laning of NH-37A with a distance of 17.3 km from Kaliabor Tinali Road to Dolabari Road Junction worth Rs 323.92 crore, the release added

The stock opened at Rs 23 and touched a high of Rs 24.90 on the BSE. At 9:25AM, over 250,000 shares were traded on both the stock exchanges.