Gammon Infrastructure Projects, an infrastructure project development company incorporated by Gammon India, witnessed a sharp rise in share price on Thursday after the Reserve Bank of India (RBI) on Wednesday raised investment limit for foreign institutional investors (FIIs) in Gammon Infrastructure Projects to 49% of the paid up capital under the Portfolio Investment Scheme (PIS).

Shares of the company are trading at Rs 12.86, up Rs 1.71, or 15.34% at the Bombay Stock Exchange (BSE) on Thursday at 9:52 a.m.

Total volume of shares traded on the bourses today was higher by 948.61% to 1,191,456 compared with 22-day average volume of 113,623.