Ramky Infra zooms on 'Piramal' touch

Ramky Infra is enjoying a large share of limelight today, with the luminescence coming from Ajay Piramal group. The counter is showing an over 4 times jump in volumes and stock price is up almost 10% at Rs.60 levels. Intra day high is at Rs.63.70.

The sock has spiked up on unconfirmed news that Ajay Piramal group might get control of Ramky’s three highway projects - Ramky Eslamex Hyderabad Ring Road, Sehore Kosmi Tollways and NAM Expressway. Piramal plans to buy 51% majority stake and gain management control with over 6 years investment outlook.

This, if and when it happens, will be very good for Ramky’s books. Expecting valuations of around Rs.750 crore, this money coming in could be utilized to retire at least part of its Rs.2700 crore debt.