Gayatri Projects clarifies on new orders

With reference to the news item appearing in a leading web-portal titled "Gayatri Projects to bag Rs 900 cr from AP govt", Gayatri Projects Ltd has clarified that the Company has not provided or announced any information about the works of Rs 900 Cr likely to be awarded to the Company by the AP Government.

In the competitive bidding of tenders by the Hyderabad Growth Corridor Ltd, the "Maytas - Gayatri Consortium" has been ranked as L1 and the Company is yet to receive work order from the employer. It is the Company"s prudential policy to disclose such market sensitive information only on receiving formal work orders from the employers.

Therefore, the information appearing in the above portal is not announced / sourced from the Company"s end.

The stock closed the day at Rs.278.60, up by Rs.7.05 or 2.60%. The stock hit an intraday high of Rs.288.40 and low of Rs.272.10. The total traded quantity was 359943 compared to 2 week average of 58524.

Source : Equity Bulls

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