GMR Infra shares end nearly 14% up, mcap rises by Rs 1,238 cr
Shares of GMR Infrastructure today ended with nearly 14 per cent gains, adding Rs 1,238.11 crore to its market valuation, on reduction in the company's gross debt.
Shares of GMR Infrastructure today
ended with nearly 14 per cent gains, adding Rs 1,238.11 crore
to its market valuation, on reduction in the company's gross
debt.
The stock zoomed 13.71 per cent to close at Rs 17 on BSE.
During the day, it jumped 27 per cent to Rs 19 -- its 52-week
high.
At NSE, shares of the company soared 13 per cent to close
at Rs 16.90.
The company's market valuation went up by Rs 1,238.11
crore to Rs 10,261.11 crore.
In terms of volume, 275.69 lakh shares of the company
were traded on BSE and over 31 crore shares changed hands at
NSE during the day.
GMR Infrastructure today reported widening of its
standalone net loss to Rs 2,478.7 crore for the quarter ended
March 31, 2017.
The company had posted standalone net loss of Rs 1,787
crore in the corresponding quarter of 2015-16, GMR
Infrastructure said in a filing to BSE.
The company's standalone total revenue declined to Rs
272.47 crore compared to Rs 395.25 crore in the year-ago
period.
Reflecting GMR's turnaround efforts and improvement of
financial health of the group, the gross debt reduced to Rs
19,856 crore from Rs 37,480 crore, it said.
GMR Group is a leading global infrastructure conglomerate
with interests in airport, energy, transportation and urban
infrastructure.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)