Meanwhile, the BSE Sensex was up 180.31 points, or 0.68%, to 26,672.82.

On BSE, so far 84,000 shares were traded in the counter, compared with an average volume of 19,043 shares in the past one quarter.

The stock hit a high of Rs 63.70 and a low of Rs 58.25 so far during the day. The stock hit a 52-week high of Rs 93.95 on 3 July 2014. The stock hit a record low of Rs 30.15 on 19 February 2014.

The stock had underperformed the market over the past one month till 16 September 2014, falling 1.64% compared with 1.49% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 24.98% as against Sensex's 5.17% rise.

The small-cap company has an equity capital of Rs 57.20 crore. Face value per share is Rs 10.

According to the report, the Piramal group has signed a nonbinding agreement to buy ownership of Ramky Eslamex Hyderabad Ring Road, Sehore Kosmi Tollways and NAM Expressway. The Piramal group plans to purchase a majority 51% stake and take management control with an investment horizon of more than six years as part of its strategy to acquire such projects that could see it becoming the country's biggest roads operator, added the report.

The deal, which will help Ramky Infrastructure retire some of its Rs 2700 crore debt, is likely to be finalised at a valuation of Rs 700-750 crore, the report said.

Given the current fall in traffic flows and trimmed down traffic projections, Ramky Infrastructure expects a combined valuation of around Rs 720 crore for its equity investments in these three road assets as against some Rs 900 crore expected a few months back, the report suggested.

On a consolidated basis, Ramky Infrastructure reported a net loss of Rs 91.59 crore in Q1 June 2014, higher than net loss of Rs 34.12 crore in Q1 June 2013. Net sales fell 52.9% to Rs 313.65 crore in Q1 June 2014 over Q1 June 2013.

Ramky Infrastructure is an integrated construction, infrastructure development and management company in India. Since commencement of business in 1994, the company has delivered a range of construction and infrastructure projects in various sectors such as water, wastewater, transportation, irrigation, industrial construction, parks (including SEZs), power transmission, power distribution, residential, commercial and retail property.