Gammon India seeks approval for issue of 1.75 crore shares

Gammon India Ltd has announced that the Board of Directors of the Company at its meeting held on May 13, 2010, inter alia, has subject to the approval of the shareholders which is being sought through postal ballot recommended the Issue of upto 1,75,00,000 (One Crore Seventy Five Lacs) Equity Shares of Rs. 2/- each to the Employees of the Company and its subsidiaries under the Employees Stock Option Scheme - 2010, in terms of Securities & Exchange Board of India (SEBI) (Employees Stock Option Scheme and Employees Stock Purchase Scheme) Guidelines 1999.

The stock closed the day at Rs.207.35, down by Rs.3.50 or 1.66%. The stock hit an intraday high of Rs.209.95 and low of Rs.205.

The total traded quantity was 15214 compared to 2 week average of 124143.

Source : Equity Bulls

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