Shares of Gammon Infrastructure Projects jumped by nearly 11% in morning trade on the bourses today after the company said its board will meet on May 19 to consider a rights issue of shares.
Following the move, the stock advanced by 10.79% to touch an early high of Rs 19.50 on the Bombay Stock Exchange, while on the National Stock Exchange, it climbed by 10.79% to touch a high of Rs 19.50.
In a filing to the stock exchange after market hours on Friday, Gammon Infra said its board of directors will meet on May 19 to consider a rights issue of shares as well as the declaration or passing over of a dividend by the company.
Meanwhile, the BSE benchmark Sensex was trading at 18,388.25, down 143.03 points, at 1133 hours.