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Shares of construction and engineering major Gammon India surged over 16 per cent today as the company has bagged a Rs 1,708-crore project from the Central Government for widening of an important stretch of National Highways in Jammu & Kashmir.
Gammon India’s scrip zoomed 16.26 per cent to Rs 13.15 on the BSE. On the NSE, the stock rallied 15.41 per cent to Rs 13.10.
The company has secured a Rs 1,709.99-crore project from the National Highways Authority of India (NHAI) for widening of Udhampur to Ramban section of NH 1A in Jammu & Kashmir, Gammon India had said in a filing to the BSE on Thursday.
The contract has been awarded under phase II of the National Highways Development Project (NHDP).
Gammon India, one of the largest contractors and developers of infrastructure projects in India, operates in four major areas — engineering, procurement and construction, construction business, infrastructure development business and international business.
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