Gayatri Projects gained 1.2% to Rs 620.75 at 12:10 IST on BSE after the company announced that its joint venture company, Sembcorp Gayatri Power, concluded construction of its first 600 megawatts unit.
The announcement was made after market hours yesterday, 16 November 2016.Meanwhile, the BSE Sensex was up 41.54 points, or 0.16%, to 26,339.85.
On BSE, so far 403 shares were traded in the counter, compared with average daily volume of 5,379 shares in the past one quarter. The stock hit a high of Rs 627.35 and a low of Rs 610.05 so far during the day. The stock hit a record high of Rs 790 on 23 September 2016. The stock hit a 52-week low of Rs 482 on 17 February 2016. The stock underperformed the market over the past one month till 16 November 2016, falling 7.24% compared with the Sensex's 4.97% fall. The scrip also underperformed the market in past one quarter, declining 7.24% as against the Sensex's 6.29% decline.
The mid-cap company has equity capital of Rs 35.45 crore. Face value per share is Rs 10.
Gayatri Projects said that the second unit of the 660 megawatts (MW) is expected to be completed in the first quarter of 2017. Sembcorp Gayatri Power (SGPL), formerly NCC Power Projects, is a joint venture between Sembcorp Industries' wholly owned subsidiary, Sembcorp Utilities and Gayatri Energy Ventures, a wholly owned subsidiary of Gayatri Projects. The 1,320 megawatts capacity power plant is located at Krishnapatnam in Andhra Pradesh's SPSR Nellore District. Sembcorp Industries is a leading energy, water and marine group operating across five continents worldwide.
Gayatri Projects' consolidated net profit jumped 50.8% to Rs 16.35 crore on 6.6% growth in net sales to Rs 431.03 crore in Q1 June 2016 over Q1 June 2015.
Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, and a special focus on road and irrigation projects.
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