Gammon India has received an approval for sale of 52.80 crore equity shares held by the company in its subsidiary viz. Gammon Infrastructure Projects to its another subsidiary viz. Gammon Power, subject to all the necessary approvals. The board of directors at its meeting held on August 21,2014 has approved for the same.
Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.
The promoters holding in the company stood at 34.99% while Institutions and Non-Institutions held 26.20% and 38.81% respectively.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 38.50 and a 52 week low of Rs 8,15 respectively.
Current price of stock is 31.30, down by 0.10 points from its previous of Rs 31.40 on the BSE.
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