Ramky Infra up 4% on financial tie-up for Agra road project
Shares of Ramky Infrastructure rallied as much as 3.9 percent amid large volumes on Monday as the company achieved financial tie-up for its Agra Etawah road project in the state of Uttar Pradesh.
December 31, 2012 / 15:24 IST
Shares of Ramky Infrastructure rallied as much as 3.9 percent amid large volumes on Monday as the company achieved financial tie-up for its Agra Etawah road project in the state of Uttar Pradesh.
Ramky has received a project from the National Highways Authority of India for undertaking six laning of Agra - Etawah Bypass section of NH-2 under National Highways Development Project phase V in the state of Uttar Pradesh. The concession period for the project is 30 years."The financial tie up for the debt syndication of Rs 1,225 crore for the above project has been achieved through consortium of bankers, lead by OBC and other participating lenders being Union Bank of India, Bank of India, India Infrastructure Finance Company, Central Bank of India, State Bank of Patiala and Axis Bank on December 29," the company said in a release.At 15:05 hours IST, the stock rose 3 percent to Rs 100.05. Trading volumes increased significantly to 67,133 shares as compared to its five day average of 7,382 shares. Market capitalisation of the company currently stands at Rs 572.26 crore. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
