Heard on the Street: Gayatri Projects

Gayatri Projects up 14.7% on stake sale buzz

Shares of Gayatri Projects rose 14.7% to Rs 113 on Wednesday amid speculation the company is in advanced talks to sell a stake in one of its power projects. The market buzz is that the company’s management is overseas to negotiate the stake sale. An email query to company officials did not elicit any response. The stock, which was hovering around the opening rates till about 1:00 PM on Wednesday, shot up suddenly. About 19,000 shares were traded on the BSE on Wednesday against the two-week average of 4,400 shares.

Contributed by Nishanth Vasudevan