Gammon Infrastructure Projects, an infrastructure project development company incorporated by Gammon India, witnessed a sharp rise in share price on Tuesday after the company announced that Indira Container Terminal (ICTPL), one of the joint venture SPV of the company, has accepted the Mumbai Port Trust (MbPT) proposal.

As per the proposal, the company can alternatively use of the Offshore Container Terminal for Roll-on/Roll-off operations, i.e. operations of providing facilities to the importers and exporters of automobiles and self propelled equipment.

This facility can be used for a period of one year from the date of operation with revenue share of 45% to ICTPL and 55% to MbPT.

Shares of Gammon Infrastructure Projects are trading at Rs 12.82, up Rs 2.13, or 19.93% at the Bombay Stock Exchange (BSE) on Tuesday at 9:33 a.m.

Total volume of shares traded on the bourses today was higher by 1,058.59% to 1,316,424 compared with 22-day average volume of 113,623.