The media had reports on April 19, 2008 that Gammon India Ltd. has bagged an order of Rs. 800 crore from the Madhya Pradesh government to develop fifteen acres of land for commercial development.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Gammon India Ltd. has vide its letter inter-alia stated, "The Company has bagged an order from Madhya Pradesh government to develop fifiteen acres of land for commercial development for only Rs. 338 crore and not Rs. 800 crore, as has been wrongly stated in the media. Further, any order of this size, is in the normal course of business and has no bearing on the Company's market price." -- www.nseindia.com
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