Last Updated: December 11, 2023, 13:10 IST
GMR Airports Infrastructure Ltd shares on Monday, December 11, edged higher
GMR Airports Infrastructure Ltd shares on Monday, December 11, edged higher and clocked a 52-week high.
GMR Airports Infrastructure Ltd shares on Monday, December 11, edged higher and clocked a 52-week high. The scrip rose nearly 5% to Rs 72 in Monday’s trade on BSE as the GQG Partners on Friday bought close to 5% stake in GMR Airports Infrastructure in a deal worth Rs 1,672 crore through the open market.
GQG Partners Emerging Markets Fund bought 92,636,787 shares, and Goldman Sachs GQG Partners International Opportunities Fund bought 19,02,45,637 shares, according to bulk deals data. The shares purchased represent a cumulative stake of 4.7%.
The shares were bought at Rs 59.09 a share, a 4% discount to Thursday’s closing price of the stock.
Besides GMR Airports in the transport infrastructure space, GQG Partners also has investments in various companies of the Adani Group, including Adani Enterprises, which operates the Mumbai International Airport.
According to the shareholding pattern available on Trendlyne, foreign institutional investors held 28% stake in the company as of September end, and mutual funds about 1.3% stake.
For the September quarter, GMR Airports Infrastructure reported a consolidated net loss of Rs 190 crore, against Rs 197 crore a year ago. The company’s revenue during the quarter rose 25% to Rs 1,607 crore.
GMR Airports Infra is one of the country’s largest airport developers and operators with a huge portfolio of assets across energy, transport and urban infra sectors. It operates India’s two largest airports, Delhi and Hyderabad. GMR Airports Infrastructure Limited was incorporated in 1996 and is based in New Delhi, India.
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