GVK Power climbs on hope of tariff hike

GVK Power & Infrastructureclimbed on Monday after media reports said that it has sought more than seven-fold increase in aeronautical tariffs. The GVK controlled operator has asked permission from the regulator to increase tariffs by 660% and has also sought an introduction of a user development fee on passengers since the airport modernization project cost has nearly doubled to Rs 123 billion since it was privatized, according to media reports.Shares of the companyare trading at Rs 14.51, up Rs 0.84, or 6.14% at the Bombay Stock Exchange (BSE) on Monday at 12:38 p.m.The scrip has touched an intra-day high of Rs 14.80 and low of Rs 13.80. The total volume of shares traded at the BSE is 3,703,375.In the earlier session, the shares climbed 5.89%, or Rs 0.76, at Rs 13.67. Currently, the stock is trading down 28.87% from its 52-week high of Rs 20.40 and above 51.78% over the 52-week low of Rs 9.56.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 11.83 1.84 15.55 1 Month 12.39 1.28 10.33 3 Months 14.93 (1.26) (8.44) 6 Months 17.35 (3.68) (21.21) 1 Year 16.60 (2.93) (17.65) Note: Based on previous day closing price.