Gammon Infrastructure Projects Ltd. surges in trade. Know why
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Gammon said it would sell three of its power projects, spanning coal, hydro and renewable energy, and six road projects in various parts to the country to raise cash. These projects will be sold to
The road projects are situated in various parts of India such as Gorakhpur, Rajamundary, Vijaywada, Nasik and Andhra Pradesh. The sale proceeds will help the company cut debt to 2,229 crore rupees from 3,947 crore rupees.
As a consequence, Gammon Infra surged 5.3 percent to 12 rupees on the
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