Gammon Infrastructure Projects surged 12.74% to Rs 12.57 at 12:05 IST on BSE after the Reserve Bank of India notified increase in the ceiling on investment by Registered Foreign Portfolio Investors in the paid up equity share capital of the company.
Meanwhile, the S&P BSE Sensex was down 40.86 points or 0.15% at 27,523.80
On BSE, so far 4.82 lakh shares were traded in the counter as against average daily volume of 93,783 shares in the past one quarter.
The stock hit a high of Rs 13.35 and a low of Rs 11.80 so far during the day. The stock had hit a 52-week high of Rs 20.85 on 20 November 2014. The stock had hit a 52-week low of Rs 10.70 on 14 May 2015.
The small-cap company has equity capital of Rs 188.33 crore. Face value per share is Rs 2.
The Reserve Bank of India (RBI) after trading hours yesterday, 27 May 2015, notified increase in the ceiling on investment by foreign institutional investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) to 49% of the paid up equity share capital of the company from 24% earlier. Total holding of FIIs in Gammon Infrastructure Projects stood at 12.85% as on 31 March 2015.
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Gammon Infrastructure Projects reported a consolidated net profit of Rs 7.38 crore in the quarter ended 31 March 2015 as compared to net loss of Rs 40.56 crore in the quarter ended 31 March 2014. Net sales rose 1.12% to Rs 208.01 crore in the quarter ended 31 March 2015 over the quarter ended 31 March 2014.
Gammon Infrastructure Projects is an infrastructure project development company incorporated by Gammon India, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
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