Gammon India Shares Up 10% On EPC Business Investment Proposal

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Mumbai: Gammon India shares today surged nearly 10 per cent after the company said its board will consider a proposal for investment in its engineering procurement and construction business.

The stocks soared 9.43 per cent to Rs 12.53 on BSE. At NSE, it zoomed 9.64 per cent to Rs 12.50.

On the volume front, 1.38 lakh shares of the company changed hands at BSE and over 4 lakh shares were traded at NSE during the day.

Gammon India yesterday said that its board will this week consider a proposal received for investment in the company’s engineering procurement and construction business.

“A meeting of the board of directors of the company will be held on April 2, 2016, to consider a proposal received from an investor for investment in the company’s Engineering Procurement & Construction (EPC) business,” Gammon India had said in a BSE filing.