GMR Infrastructure Gains 1.5%, Subsidiary Receives LoA From NIHAN

GMR Infrastructure shares made a profit of 1.5 per cent intraday Monday after the company’s subsidiary received letter of award from Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) India.

GMR Airports (GAL), the company’s subsidiary has received the formal letter of award (LoA) from MIHAN India, the concessioning authority for the Nagpur Airport.

It includes development, operations and management of Dr. Babasaheb Ambedkar International Airport, Nagpur, at a revenue share of 14.49 percent of gross revenues.

At 10:03 hrs GMR Infrastructure was quoting at Rs 17.05, up Rs 0.20, or 1.19 percent on the BSE.

The share touched its 52-week high Rs 21.50 and 52-week low Rs 13.45 on 03 September, 2018 and 05 February, 2019, respectively.

Currently, it is trading 20.7 percent below its 52-week high and 26.77 percent above its 52-week low.