Gayatri Project Share Price hits upper circuit of 5% after the company received 3 awards

Gayatri Projects has received 3 Letter of Awards (LOA) for "Pipe Drinking Water Schemes in the State of Uttar Pradesh for a total value of Rs 1332 cr. The current market cap of the company is Rs 680 cr. The 52 week low of the company is Rs 7.75 while the 52 week high is Rs 88.5. Many analysts believe that this Civil Construction and Contracting Company will move further up from here on. All the above Letter of Awards pertains to water division.

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Gayatri Project share price has hit the upper circuit today. There were many pending buy orders, with no sellers available. Gayatri Projects was quoting at Rs 36.35, up Rs 1.70, or 4.91 percent on the BSE. 
Government is increasingly focusing on the infra and construction sector. This indicates companies like Gayatri Projects have a bright future and investors can definitely look forward to investing in construction companies for long term returns. 

Bulls back in action:

The Nifty opened with gains and has been trading with a positive bias since then. Currently, it is trading up by 60 points. On the hourly charts, we can observe that the Nifty has started rising again after colling off in the previous trading session. On December 11, it has touched a new all-time high of 13579.35. However, the divergence on the momentum indicator is a cause of concern. Overall trend remains positive. In terms of levels, support zone is placed 13480-13400 while 13580-13650 shall act as immediate hurdle zone for the Nifty.

On the hourly chart, the Nifty is trading above the 20-hour moving average (HMA) and the 40-HEMA, of 13471 and 13377, respectively. The hourly momentum indicator has a positive crossover. Market breadth is positive with 1260 advances and 546 declines on the National Stock Exchange (NSE).