Whats up with Gammon India?
Shares of Gammon India shot up over 12% from its day’s low in the late trades.
If only the Delhi Metro could spring back as fast as the stock! Shares of Gammon India shot up over 12% from its day’s low in the late trades.
The stock had slipped sharply in the morning trades after a part of an under construction Delhi Metro line collapsed on Sunday morning, which was being constructed by Gammon India. This was the second accident involving Gammon India. In fact there was a second accident at the site today again when one of the cranes gave way while trying to lift a girder.
The first incident was when Gammon was held responsible for the collapse incident in Panjagutta Hyderabad which claimed two lives in September 2007. Eight pre-fabricated segments of the flyover collapsed after scaffolding caved in on September 9, 2007.
Later on Monday, Umesh Gupta, vice-president Gammon India was quoted as saying that,”We followed highest safety measures and have safety engineers. We are an ISO certified company and prima facie I don’t find any mistake on our part,”.
source: Indiainfoline
Tags: buy sell hold gammon india, Gammon India, gammon india moves up, NSE Tips
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