Shares of GMR Power and Urban Infra (GPUIL), the non-airport business company of the GMR Group, started trading on BSE and NSE from Wednesday, 23 March 2022.
The stock hit a lower circuit of 5% at Rs 44.20. After opening at Rs 46.50, it hit a high of Rs 48.80 in initial deals.The scrip will be in Trade-for-Trade segment for the first 10 trading days.
GPUIL demerged from GMR Infra. The GMR Group split its airport and non-airport businesses. GMR Infrastructure Limited (GIL) on 11 January 2022 became the first pure-play airport company listed on Indian bourses.
The non-airport business of GMR Group--energy, urban infrastructure, EPC services--were moved to GPUIL as a going concern.
GPUIL holds expertise in the sectors of energy, urban infrastructure and transportation.
GMR energy sector has an installed capacity of over 3000 MW and has a balanced fuel mix of coal, gas, LSHS as well as renewable sources of wind and solar energy.
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The Group's transportation business focuses on surface transport projects including Roads, Railways, Airstrips/ Runways in both DBFOT (under GMR Highways) and EPC (under GIL - EPC) segments. With six operating assets adding to total length of over 2,400 Lane kms of Roads & Highways.
It is also developing a 2101 Acres (850 Ha) multi-product Special Investment Region (SIR) at Krishnagiri, Tamil Nadu, the division aims at creating state of the art establishments that are sustainable.
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