Shares of Gayatri Projects slipped 18 per cent to Rs 31 on the BSE in intra-day trade on Friday, amid heavy volumes, after the National Highways Authority of India (NHAI) declared the company a non-performer and prohibited from participating in the ongoing and future bids for the road projects till defects and deficiencies in one of the company’s projects were rectified.
At 01:38 pm, the stock of Gayatri Projects was down 11 per cent at Rs 33.70, as against a 0.34 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped 10 times, with a combined 10.57 million shares or nearly 6 per cent of the total equity of Gayatri Projects having changed hands on the NSE and BSE so far.
