Ramky Infra to sell its four road assets, shares up 20%

Ramky infrastructure shares jumped 20 per cent on Wednesday on news that the company is in active discussions with buyers to sell four of its road assets. The company is expected to earn around Rs 1,000 crore from this sale. Further, the company is also looking to sell a 1,200 acre land parcel on the outskirts of Hyderabad.

The share price of the company closed 19.97 per cent higher at Rs 35.75 on BSE. Meanwhile, it opened at Rs 32.50, and has touched a high and low of Rs 35.75 and 32.50, respectively.

For the quarter ended December 2014, the company reported net loss of Rs 133.10 crore against loss of Rs 135.57 crore in the corresponding quarter a year ago.

Ramky Infrastructure is one of the civil and infrastructure engineering companies in India. It is a small cap company with market capitalisation of around Rs 170 crore. The share price of the company declined around 60 per cent in the past one year till June 16.