Meanwhile, the BSE Sensex was up 184.65 points, or 1.17%, to 15,923.35.
On BSE, 43.60 lakh shares were traded in the counter as against an average daily volume of 22.04 lakh shares in the past one quarter.
The stock hit a high of Rs 12.15 and a low of Rs 11.25 so far during the day. The stock had hit a record low of Rs 9.56 on 19 December 2011. The stock had hit a 52-week high of Rs 43.40 on 6 January 2011.
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The stock had outperformed the market over the past one month until 23 December 2011, gaining 7.31% compared with the Sensex's 0.25% rise. The scrip had, however, underperformed the market in past one quarter, falling 33.67% as against 2.62% fall in the Sensex.
The mid-cap infrastructure company has an equity capital of Rs 157.92 crore. Face value per share is Re 1.
Changi, which operates Singapore's international airport, is likely to pay between Rs 2000 crore and Rs 2200 crore for the proposed stake, the report suggested. At the top end of that range, GVK's overall airport business would be worth about Rs 8000 crore.
"The deal is in the final stages, and an announcement is likely to be made in January 2012," the report quoted a person familiar with the situation as saying.
Report suggested that GVK will use funds for repaying debts. GVK has total debt of about Rs 5000 crore, the report said. GVK owns 50.5% of Mumbai's airport and 43% of Bangalore's airport, and it operates both.
GVK Power & Infrastructure's consolidated net profit fell 11.4% to Rs 37.92 crore on 5.2% fall in net sales to Rs 477.38 crore in Q2 September 2011 over Q2 September 2010.
GVK Power & Infrastructure has presence in the crucial sectors of energy, airport, transportation and realty.
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