GVK Power & Infra

Till 11:27 am, a combined 1.8 mn equity shares changed hands and there were pending sell orders for around 9 mn shares on the NSE and BSE, exchanges data show. The stock last traded on August 2, 2021

A portion of this was routed back to the promoters of the GVK Group in the joint venture company through multiple complex transactions, according to the federal agency

Issues related to airport deal raise questions

Call Mumbai airport stake sale to Adani a breach of agreement

GVK group chairman GVK Reddy and his business associates allegedly siphoned off funds belonging to Mumbai International Airport Ltd

The total revenue of the company stood at Rs 1059 crore during the quarter under discussion against Rs 1060 core in Q2FY19.

The GVK Group had earlier said it was determined to acquire the 13.5 per cent in Mumbai International Airport Limited owned by South African firm Bid Services Division Mauritius or Bidvest

GVK also claimed that none of the group companies, barring MIAL, have received any notice from the ministry

The Adani group's bids far outstripped those of the competitors

The company's consolidated total income declined 10.36 per cent to Rs 4363.10 crore for the year ended March 2019 from Rs 4867.43 crore in the previous year while the expenditure remained almost flat

GVK Power and Infra said its board has accepted the resignation of GVK Reddy as MD of the company

Reacting to the development, the stock of GVK rose as much as 16.6% to Rs 7.7 on the BSE

Total income increased from Rs 15.88 crore for the quarter last year to Rs 16.85 crore for the quarter ended June 30, 2016

Revenues grew 27.7% at Rs 1,081 cr during the quarter as compared to Rs 846 cr in the year-ago period

The company has sold 33% stake in Bangalore International Airport Ltd for Rs 2,149 crore