Gammon India jumps ahead of board meeting on CDR plan - The New Indian Express

Gammon India jumps ahead of board meeting on CDR plan

Published: 31st March 2014 04:19 PM

Last Updated: 31st March 2014 04:19 PM

Gammon India, construction and engineering company, witnessed a sharp rally in the company's share prices on Mondayahead of theboard meeting on Apr. 3, 2014for issue of convertible securities on preferential basis to promoters/ entities against their contribution made towards promoter contribution as envisaged under the Corporate Debt Restructuring (CDR) Scheme and pursuant to the master restructuring agreement.

The board will alsoconsider various options of restructuring of the company. Shares ofthe companyare trading at Rs 14.94, up Rs 1.53, or 11.41% at the Bombay Stock Exchange (BSE) on Monday at 1:59 p.m.The scrip has touched an intra-day high of Rs 15.60 and low of Rs 13.51. The total volume of shares traded at the BSE is 120,933.In the earlier session, the shares declined 0.89%, or Rs 0.12, at Rs 13.41. Currently, the stock is trading down 42.87% from its 52-week high of Rs 26.15 and above 83.31% over the 52-week low of Rs 8.15.

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