Shares of GMR Infrastructure rose by over 2 per cent on the Bombay Stock Exchange amid reports that the company is in advanced talks to sell a stake in power utility InterGen.
The scrip gained 2.31 per cent to hit a months high of Rs 64 on BSE. Shares of GMR Infrastructure, later, were quoting at Rs 63.35, up 1.28 per cent over the previous close.
The stock rose by 1.36 per cent to Rs 63.40 on the National Stock Exchange.
According to media reports, the company is in advanced talks to sell a 50 per cent stake in the US-based InterGen NV to Chinas Huaneng Group, for about USD 1.2 billion.
The state-owned Chinese company may pay GMR Infrastructure as much as USD 1.4 billion, including payments for taking over some non-operating assets, the report added.
GMR Infrastructure had bought 50 per cent of the Massachusetts-based power utility InterGen in 2008 for USD 1.1 billion from a fund owned by American International Group Inc, the report added.