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Five banks had an exposure of about ₹706 cr to the project as of March 2016
Shares of Gammon Infrastructure Projects and Manpasand Beverages will remain in focus on Tuesday, as their boards meet to consider financial results for the quarter and year-ended March 2017. Gammon Infra had reported a net profit of ₹58.15 crore in FY16 on total revenues of ₹403.20 crore. The owner of Mango Sip, Fruits Up, Pure Sip and Manpasand ORS brands, had reported a net profit of ₹50.56 crore on revenues of ₹556.
Gammon Infrastructure Projects jumped 6.98% to Rs 4.60 at 10:00 IST on BSE after the company said that it has acquired 24% of total paid up capital of Indira Container Terminal from Noatum Ports, S. L., Spain.
Shares of Gammon Infrastructure Projects surged more than 15 percent intraday Friday as it has increased its stake in Indira Container Terminal (ICTPL).
Reliance Industries (RIL) will be watched. The company said that the Telecom Regulatory Authority of India (TRAI) has advised Reliance Jio Infocomm (Jio) to withdraw the 3 months complementary benefits of Jio Summer Surprise. Jio accepted this decision. It is in the process of fully complying with the regulators advice, and will be withdrawing the 3 months complimentary benefits of Jio Summer Surprise as soon as operationally feasible, over the next few days.
Gammon India said it has got members' nod to invest or buy up to 20 percent stake in Gammon Infrastructure Projects from wholly-owned arm Gammon Power Ltd.
Key benchmark indices hovered in negative terrain with small losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 48.16 points or 0.17% at 28,613.44. The Nifty 50 index was currently down 12.95 points or 0.15% at 8,866.25. Profit booking set in after gains in previous three sessions saw indices hitting five month-highs.
Gammon India rose 4.55% to Rs 13.11 at 12:28 IST on BSE after the company said its board approved selling the balance 26.06% equity shares of Gammon Infrastructure Projects through its holding company, Gammon Power.
Gammon India up by 4% on board’s decision to acquire upto 20% of stake in GIPL from GPL
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India's budget for the year to March 2018 offers hikes in government spending and cuts in taxes as Prime Minister Narendra Modi promises to help the poor and to win back the votes of those hit by his crackdown on "black money".
Anil Ambani led Reliance Infrastructure and 25 other companies including Larson & Toubro Ltd, HCC, AFCONS Infrastructure Ltd, Shapoorji Pallonji and Company, NCC, Tata Projects, Gammon and IL&FS Engineering, China Railway Construction Bridge Engineering Bureau Group have submitted their request for qualification (RFQ) for the Rs 17,750 crore Mumbai Trans Harbour Link (MTHL) project. They have filed RFQs individually or through a consortium route for the 22 km six lane link.