GMR Infrastructure fell 1% to Rs 46.68 on profit selling after recent steep gains.
Shares of GMR Infrastructure jumped 10.55% in the past three sessions.
So far in 2021, the stock has soared 70.26% while the benchmark Sensex has added 21.30% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 57.53. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 44.59, 43.10 and 42.08, respectively.
On a consolidated basis, GMR Infrastructure reported net loss of Rs 169.21 crore in Q2 September 2021 as against net loss of Rs 750.03 crore in Q2 September 2020. Net sales rose 49.4% to Rs 1,791.32 crore in Q2 September 2021 over Q2 September 2020.
GMR Infrastructure is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.
GMR Airports Netherlands B.V., a step down subsidiary of GMR Airports (GAL), on 23 December 2021, signed the shareholders' agreement (SHA) and share subscription agreement (SSA) with Angkasa Pura II (AP II) for the development and operation of Kualanamu International Airport (project) in Medan, Indonesia.
AP II is the state owned enterprise and the bidding authority for the Kualanamu International Airport.
With the signing of the agreements, GMR entered into 49:51 partnership with AP II. The consortium will transform Kualanamu International Airport into Western International hub of Indonesia. The project scope includes operation, development and expansion of the airport over a period of 25 years. Kualanamu International Airport is an operating Airport with healthy cash flows.
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