Gayatri projects bags new order

Posted By: Religare
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Gayatri projects bags new order
On Tuesday, Gayatri Projects announced that it had received a project worth more than Rs. 54 crore from Gujarat Energy Transmission Corporation Ltd.

The project is required to be completed in two phases namely the supply portion which is worth Rs. 41 crore and the erection portion which is worth Rs. 13 crore. The project portion would include the supply and erection work for 82.1 Km, 400KV Amreli-Kasor line on a turnkey basis.

The Gayatri Projects had recently announced that it was looking to raise around $250 million from private equity players for financing its power projects by June- August and might start its rights issue by June.

The stocks of the company rose on the back of these new orders on Tuesday. On the Bombay Stock Exchange (BSE), stocks of the firm were trading at Rs. 237.05 up by 6.00 points or by 2.60 per cent at 2:50 P.M IST on Tuesday. The stock had seen an intraday high of Rs. 240.90 and an intraday low of Rs. 229.50, till then.

In addition, the company is hopeful to win projects worth Rs. 5,000 crore in FY12, which will add to its current order book of about Rs. 9,000 crore.

Read more about: gayatri projects, infrastructure, bse, nse
Story first published: Wednesday, April 27, 2011, 12:33 [IST]
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