The company made this announcement after market hours on Monday, 12 December 2011.
Meanwhile, the BSE Sensex was up 53.73 points, or 0.34% to 15,924.08.
On BSE, 3.74 lakh shares were traded in the counter as against average daily volume of 4.96 lakh shares over the past one quarter.
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The stock hit a low of Rs 17.70 so far during the day, which is a record low for the counter. The stock hit a high of Rs 18.50 so far during the day. The stock had hit a 52-week high of Rs 48.25 on 14 December 2010.
The stock had underperformed the market over the past one month till 12 December 2011, falling 27.66% compared with the Sensex's 7.69% decline. The scrip had also underperformed the market in past one quarter, declining 34.72% as against 3.83% fall in the Sensex.
The mid-cap infrastructure company has equity capital of Rs 389.24 crore. Face value per share is Re 1.
The first unit of GMR Rajahmundry Energy's combined cycle power plant at Vemagiri in Andhra Pradesh was synchronized on Sunday night, adding 384 megawatts (MW) capacity to the Andhra Pradesh grid. GMR Infrastructure said that the GMR Group is setting up the 2x384 (MW) combined cycle power plant adjacent to its existing plant located at Vemagiri. The first unit has been commissioned on Sunday, 11 December 2011, in a record time of 24 months. The second unit is expected to be commissioned by February 2012, GMR said in a statement. This GMR project was identified as a XI plan project and accordingly was shortlisted for gas allocation by the Government of India. It is expected that gas will be made available to this project shortly, GMR further added.
On a consolidated basis, GMR Infrastructure reported a net loss of Rs 62.53 crore in Q2 September 2011, compared with net profit of Rs 71.12 crore in Q2 September 2010. Net sales rose 48.3% to Rs 1812.25 crore in Q2 September 2011 over Q2 September 2010.
GMR Infrastructure (GIL) is a Bangalore headquartered global infrastructure major with interests in energy, highways, airport businesses and urban Infrastructure. GIL has successfully employed the public-private partnership model to build a portfolio of high quality assets.
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