GMR Infra shares climb on stake sale in expressways project
Published: 17th September 2013 04:18 PM
Last Updated: 17th September 2013 04:18 PM
GMR Infrastructure, the infrastructure
holding company of GMR group,gained on Tuesday after its
subsidiary, GMR Highways has signed a definitive agreement with
India Infrastructure Fund (IIF) to divest 74% stake in GMR
Ulundurpet Expressways (GUEL).
This is a second major divestment in GMR's roads portfolio in
less than 6 months. The project commenced commercial operations in
July 2009.GMR Group will receive a consideration of about Rs 2.22
billion for the sale of 74% equity stake.
Shares of the company settled at Rs
19.40, up Rs 0.46, or 2.43% at the Bombay Stock Exchange (BSE).The
scrip has touched an intra-day high of Rs 19.61 and low of Rs
18.50. The total volume of shares traded at the BSE is 1,069,679.In
the earlier session, the shares rose 0.74%, or Rs 0.14, at Rs
18.94.Currently, the stock is trading down 28.15% from its 52-week
high of Rs 27 and above 82.16% over the 52-week low of Rs
Share Price Movement Period Pricein Rs Gain/(Loss) in Rs
in % 1 Week 19.70 (0.90) (4.57) 1 Month 20.95 (2.15) (10.26) 3
Months 19.95 (1.15) (5.76) 6 Months 18.55 0.25 1.35 1 Year 22.70
(3.90) (17.18) Note: Based on previous day closing price.