GVK Power & Infrastructure rose 4.95% to Rs 16.33 at 10:37 IST on BSE after the company confirmed that it received the order for Navi Mumbai Airport.
The announcement was made after market hours yesterday, 25 October 2017.Meanwhile, the S&P BSE Sensex was down 98.71 points, or 0.30% to 32,943.79.
On the BSE, 36.14 lakh shares were traded in the counter so far, compared with average daily volumes of 18.17 lakh shares in the past one quarter. The stock had hit a high of Rs 16.33 and a low of Rs 15.20 so far during the day. The stock hit a 52-week high of Rs 16.33 on 26 October 2017. The stock hit a 52-week low of Rs 5.05 on 25 May 2017.
The stock had outperformed the market over the past one month till 25 October 2017, rising 37.58% compared with 4.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.46% as against Sensex's 2.04% rise. The scrip had also outperformed the market in past one year, rising 129.84% as against Sensex's 18.70% rise.
The small-cap company has equity capital of Rs 157.92 crore. Face value per share is Re 1.
GVK Power & Infrastructure said that its subsidiary, Mumbai International Airport (MIAL), received a Letter of Award from City & Industrial Development Corporation (CIDCO), the nodal agency of the Government of Maharashtra, for the Navi Mumbai International Airport project.
In February 2017, MIAL was declared the winning bidder for the Greenfield airport that will be built on 1,160 hectares in a Public Private Partnership (PPP) mode with CIDCO. MIAL will hold a 74% stake while the remaining 26% will be with CIDCO.
Also Read
GVK Power & Infrastructure reported net profit of Rs 6.77 crore in Q1 June 2017 as against net loss of Rs 51.04 crore in Q1 June 2016. Net sales rose 4.85% to Rs 7.14 crore in Q1 June 2017 over Q1 June 2016.
GVK Power & Infrastructure is a leading conglomerate with diversified interests across various sectors including energy, resources, airports, transportation, hospitality and life sciences.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content