Gammon India to sell 26% stake in Gammon Infrastructure; stock up by 4%
Avalokita Pandey / 21 Feb 2017
Gammon India is sizzling this morning. The stock has impressively surged by 4 percent at the time of filing this report at 1145 hours.
Gammon India is sizzling this morning. The stock has impressively surged by 4 percent at the time of filing this report at 1145 hours.
The stock of the company surged after Gammon India, in its board meeting held on February 20, approved the sale of upto 30 per cent equity shares of Gammon Infrastructure Projects, which is a wholly-owned subsidiary of Gammon Power. Further, the company has also permitted Gammon Power to sell or dispose off the balance 26.06 per cent of the equity shares of Gammon Infrastructure Projects at a market price.
The stock of the company has witnessed a spurt in volumes by more than 2.37 times. In the last one year, the stock has fallen by 6.45 per cent. At 1145 hours, Gammon India is trading in green at Rs 13.05 level, up by 0.55 or 4.40 per cent.
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