Gammon Infrastructure Projects, an infrastructure project development company, surged on Monday after its board approved issue of shares or equity linked instrument via Qualified Institutional Placement (QIP) upto Rs 5 billion, subject to the approval of shareholders,
Shares of the company are trading at Rs 14.23, up Rs 0.67, or 4.94% at the Bombay Stock Exchange (BSE) on Monday at 12:15 p.m.
The scrip has touched an intra-day high of Rs 14.23 and low of Rs 14.23. The total volume of shares traded at the BSE is 16,490.
In the earlier session, the shares gained 3.62%, or Rs 0.5, at Rs 14.30. Currently, the stock is trading down 13.39% from its 52-week high of Rs 16.43 and above 135.21% over the 52-week low of Rs 6.05.