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Gammon Infra Rallies 11%; Bags Rs 935 Cr Order From NHAI

  • Gammon Infrastructure Projects   Gammon Infrastructure has rallied 11% to Rs 15 after the company said it has received a construction contract worth of Rs 935 crore from the National Highways Authority of India (NHAI).The government has recently invited bids for about 15 projects worth 20,000 crore to widen 2,000 km of highways, opening up a big opportunity for construction majors like, Gammon Infra L&T, GMR, Reliance Infrastructure and helping the NHAI inch closer to its target.In 2011-12, NHAI has awarded contracts for 5,100 km by the end of January against a target of 7,300 km, which is 44% higher, year-on-year. This triggered aggressive bids by private companies as the number of projects on offer slowed down after a promising start.

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