GMR Infrastructure Limited has rebound from its low in past few trading session. The stock is seen to be revived from its selling pressure.
The share slipped after the company sold its stake in Indonesian coal mining entities. Two subsidiaries of the company, GMR Energy Netherlands BV and GMR Infrastructure Overseas Ltd have entered into conditional share purchase agreement with PT Golden Energy Mines Tbk, Indonesia, as reported by the leading national business daily.
The stock had slipped by around 14% after this news came into the markets. However, some revival is seen in the Thursday’s trading session.
GMR Infrastructure Limited (GIL) is engaged in the generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.
GMR Infrastructure Ltd is currently trading at Rs 15.15, up by Rs 0.55 or 3.77% from its previous closing of Rs 14.6 on the BSE.
The scrip opened at Rs 14.6 and has touched a high and low of Rs 15.3 and Rs 14.45 respectively. So far 15631148(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 8812.48 crore. Read More…