GMR Infrastructure rises on getting approval from NCLT for demerger of non-airport business

GMR Infrastructure is currently trading at Rs. 42.75, up by 0.10 points or 0.23% from its previous closing of Rs. 42.65 on the BSE.

The scrip opened at Rs. 43.15 and has touched a high and low of Rs. 43.15 and Rs. 42.15 respectively. So far 901110 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 46.10 on 13-Oct-2021 and a 52 week low of Rs. 22.50 on 26-Apr-2021.

Last one week high and low of the scrip stood at Rs. 43.90 and Rs. 38.85 respectively. The current market cap of the company is Rs. 25713.13 crore.

The promoters holding in the company stood at 60.50%, while Institutions and Non-Institutions held 29.18% and 10.32% respectively.

GMR Infrastructure has received approval from the National Company Law Tribunal (NCLT) for the restructuring plan involving the demerger of the non-airport business.

GMR Infrastructure had unveiled the rejig plan on August 27 last year, to simplify the corporate holding structure and to attract sector-specific global investors. The sanction was pronounced by the tribunal on December 22, 2021.

GMR Infrastructure is engaged in 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.

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