GMR Infrastructure benefits on arm’s financial closure for Mega Highway Project

25 May 2012

GMR Infrastructure is currently trading at Rs 20.45, up by 0.25 points or 1.24% from its previous closing of Rs 20.20 on the BSE.

The scrip opened at Rs 20.30 and has touched a high and low of Rs 20.60 and Rs 20.00 respectively. So far 256696 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 36.00 on 01-Jun-2011 and a 52 week low of Rs 17.70 on 13-Dec-2011.

Last one week high and low of the scrip stood at Rs 20.80 and Rs 18.65 respectively. The current market cap of the company is Rs 7862.72 crore.

The promoters holding in the company stood at 71.43% while Institutions and Non-Institutions held 19.89% and 8.68% respectively.

GMR Infrastructure’s subsidiary GMR Kishangarh Udaipur Ahmedabad Expressways has achieved the financial closure, for its flagship Mega Highway Project, the first of its kind awarded by National Highways Authority of India (NHAI). The debt component of Rs 540 crore required for the project has been financially closed.

The company will start earning revenues from first day of operation, being a 6 laning project. Following achieving the financial closure, the company has attained a significant milestone for the project.

The Group has balanced portfolio of 4 annuity projects and 6 toll projects (6 have already commenced operation and 2 are in advanced stage of completion) totaling 6685 lane kms cross the length and breadth of the company.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323