Is the Gautrain powering Murray & Roberts?
The mystery of the construction group’s 34% share price jump may be revealed on Friday, a possible reason may be news of an expansion of the Gauteng network
Something of a mystery on the JSE on Thursday was what made construction group Murray & Roberts’s share price rocket 34%? Both the volume and value of Murray & Roberts shares traded was unusually high. JSE data showed nearly 96-million Murray & Roberts shares traded, whereas in the past few months its daily average has been about 500,000 shares traded. The value of shares traded was about R1.4bn whereas this rarely went over R10m in the past few months. One possible reason for the jump in Murray & Roberts’s share price was news of a proposed R79bn expansion of the Gautrain network. Murray & Roberts is part of the Bombela consortium that owns this railway. Gauteng human settlements MEC Paul Mashatile told a conference in Sandton on Tuesday that a feasibility study looking at expanding the Gautrain system was under way. Murray & Roberts’s surge came on the same day Gautrain announced it had suffered a derailment near its Hatfield terminal, and was forced to carry passengers by bus to ...
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