1. GMR Infrastructure shares rise on buzz over airport business

GMR Infrastructure shares rise on buzz over airport business

Shares of GMR Infrastructure jumped nearly seven per cent today amid reports that the diversified group could hive off its airport business separately.

By: | New Delhi | Published: February 20, 2017 11:39 PM
Shares of GMR Infrastructure jumped nearly seven per cent today amid reports that the diversified group could hive off its airport business separately. (PTI)

Shares of GMR Infrastructure jumped nearly seven per cent today amid reports that the diversified group could hive off its airport business separately. After opening at Rs 14.50, the scrip touched an intra-day high of Rs 15.82. After shedding the gains marginally, it ended the day at Rs 15.36 on the BSE. Currently, GMR group operates airports at Delhi, Hyderabad and the Mactan Cebu International Airport, Phillippines. It has also won the bid to develop a green field airport at Mopa in Goa.

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According to reports, the group might make the airport business a separate entity. Meanwhile, in a late evening clarification to the BSE, the company it “constantly evaluate various options for creating long term value for the shareholders”. As and when such proposals are considered and approved by the board, we notify the stock exchanges with all relevant details as required,” the filing said.

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