Gammon Infrastructure approves QIB issue worth Rs 500 crore

Gammon Infrastructure Projects Ltd has announced that the Board of Directors of the Company at its meeting held on May 27, 2009, inter-alia, has approved the issue of further capital of upto Rs 500 crores to Qualified Institutional Buyers and to convene an Extraordinary General Meeting of the Shareholders of the Company on June 30, 2009 to seek the approval of shareholders for the same.

The stock closed the day at Rs.117.50, up by Rs.5.55 or 4.96%. The stock hit an intraday high of Rs.117.50 and low of Rs.117.50.

The total traded quantity was 1978 compared to 2 week average of 232235.

Source : Equity Bulls

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