Gammon India soars nearly 9% after bagging road project

Shares of construction and engineering major Gammon India surged nearly 9 per cent today as the company has bagged a Rs 1,708-crore project from the central government for widening of an important stretch of National Highways in Jammu & Kashmir.
After rising sharply by 16.26 per cent to Rs 13.15 in intra-day trade, shares of the company finally ended at Rs 12.27, up 8.49 per cent on BSE.
On NSE, the stock gained 8.81 per cent to close at Rs 12.35.
On the volume front, 6.57 lakh shares of the company changed hands at BSE and over 30 lakh at NSE during the day.

The company has secured a Rs 1,709.99-crore project from National Highways Authority of India (NHAI) for widening of Udhampur to Ramban section of NH 1A in Jammu & Kashmir, Gammon India had said in a filing to BSE on Thursday.
Stock markets were closed on Friday for 'Bakr Id'.
The contract has been awarded under phase II of the National Highways Development Project (NHDP).
Gammon India, one of the largest contractors and developers of infrastructure projects in India, operates in four major areas - engineering, procurement and construction, construction business, infrastructure development business and and international business.