Gammon Infrastructure Projects (GIPL), an infrastructure project development company, closed at Rs 158.15, down by 5.30% or Rs 8.85 on the NSE as against the issue price of Rs 167. It opened at Rs 170, and touched an intraday high/low of Rs 185 and Rs 147, respectively.
The stock traded with volumes of 1,27,25,928 shares and the turnover was at Rs 202 crore.
In an interview with CNBC-TV18, Pervez Umrigar, MD, Gammon Infrastructure Projects Ltd said that they have 14 projects in their basket and they are awaiting the results for two more where they are preferred bidders. He added that their existing major projects include the Vizag Port project, the Paladi Bulk Port project and the NHI road project.
“Those are the main activities in front of us right now apart from the normal financial closures of our Mumbai Container terminal, our the Sikkim Hydro project and our first bio mass project in Punjab,” he added.
On the BSE the stock ended at Rs 157.90 with the volumes of 1,05,64,950. It has touched high/low of Rs 180 and Rs 147.60 respectively.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
Thursday, April 3, 2008
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