Gammon Infra rallies on rights issue plans

BSE 23 May 12 | 12:00 AM

12.54		0.42 (3.47%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 532959

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

12.50		0.3 (2.46%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: GAMMNINFRA

Performance
1 Week	:	Rs	12.16	(3.13%)
1 Month	:	Rs	13.88	(-9.65%)
1 Year	:	Rs	17.10	(-26.67%)

Gammon Infra rallies on rights issue plans

SI Reporter / Mumbai 16 May 11 | 11:16 AM

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Gammon Infrastructure Projects has rallied 7% at Rs 18.80 after the company announced fund raising plans through a rights issue.

The board of directors of the company will meet on May 19, 2011 to consider the issue of rights shares as well as the declaration/passing over of dividend by the company.

“The board will also consider and approve the audited financial results for the financial year ended March 31, 2011," the company said in a filing to the stock exchanges.

The stock opened at Rs 18.10 and hit a high of Rs 19.50 on the NSE. The trading volumes on the counter more than doubled, with 470,457 shares changing hands so far against an average less than 200,000 shares traded daily in the past two weeks.