Shares in Gayatri Projects surged after the company won an order from the Government of India.
Gayatri Projects shares were last trading at Rs 639.55 on the NSE.
"Gayatri Projects Limited has informed the Exchange that Gayatri Projects has bagged a Rs.306 Crores contract for the four laning of a highway on the Andhra Pradesh-Tamil Nadu border from the Ministry of Road Transport & Highways (NHDP-IVA C)," the company said in a release to the exchanges.
Gayatri Projects has a strong presence in the EPC (Engineering Procurement and Construction) construction of road, irrigation and industrial projects across India.
Over the last 5 decades, the company has executed projects comprising over 5,094 kms of roads and 2,212 Kms in progress, 1,200 kms of irrigation canals and several industrial projects.
Shares in EPC companies have been rallying lattely as investors see better prospects for these companies going forward. The government has been focussing on infratsructure development, particularly roads and highways.
This could lead to better prospects for companies like Gayatri Projects, which provide EPC solutions. Most of the companies in the business are reporting better order book positions, as economic development gathers steam.