LIVE MARKET TRACKER :   BSE SENSEX   26634.35      |    NSE NIFTY 7967.55    
GLOBAL MARKETS :  NASDAQ 4505.853   -0.14%    |    FSI London 6648.21   +0.02%    |    NIKKEI Japan 16173.52   -0.84%
  USD GBP EUR CAD AUD INR
USD - 0.617 0.7934 1.1165 1.1457 61.73
GBP 1.6211 - 1.2862 1.8099 1.8573 100.0693
EUR 1.2606 0.7778 - 1.4075 1.4443 77.8181
CAD 0.8961 0.5528 0.7109 - 1.0266 55.3136
AUD 0.8729 0.5386 0.6926 0.9746 - 53.8841
INR 0.0162 0.01 0.0129 0.0181 0.0186 -
Indian-Commodity  :  Equity & Shares  :  GMR Infra slips on Maldives standing firm over termination of Male airport deal

GMR Infra slips on Maldives standing firm over termination of Male airport deal (04-Dec-2012)

GMR Infrastructure is currently trading at Rs 19.20, down by 0.45 points or 2.29% from its previous closing of Rs 19.65 on the BSE.

The scrip opened at Rs 19.00 and has touched a high and low of Rs 19.70 and Rs 19.00 respectively. So far 1830759 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 34.40 on 17-Feb-2012 and a 52 week low of Rs 16.75 on 29-Nov-2012.

Last one week high and low of the scrip stood at Rs 19.80 and Rs 16.75 respectively. The current market cap of the company is Rs 7454.01 crore.

The promoters holding in the company stood at 71.62% while Institutions and Non-Institutions held 18.87% and 9.52% respectively.

Notwithstanding Singapore court ruling, which stayed the government order for an Indian-Malaysian consortium to terminate operations there, Maldives is expected to take over operations at the country's main airport over the next few days. However, as many reports suggest, the final settlement of the dispute could involve Maldives Airport Company paying the claim of the entire $220 million that GMR consortium has invested so far.

Back in 2010, GMR Male International Airport (GMIAL), a joint venture company comprising of GMR Infrastructure (77%) and Malaysia Airports Holding Berhad (MAHB) (23%), won the right to build and operate the Ibrahim Nasir International Airport (INIA) for 25 years, which is extendable by another 10 years. The GMR -MAHB consortium had emerged successful amongst the shortlisted six parties in the Male Airport privatization global bid process managed by IFC, an arm of World Bank.

However, as per GMR, the Singapore court judgment meant that it would be able to continue running the airport. This was in light of Singapore High Court (HC) passing an injunctive relief against the Maldivian Airport Company (MACL) and the government from taking any action as per the November 27 letter. The MACL, based on the directions of the new Maldivian government, had on November 27 cancelled the contract given to GMR in 2010 during the previous regime of President Mohamed Nasheed.


Top News Today
Tata Power, NTPC and Hindalco Industries to see some action today
(30-Sep-2014)

Tata Power, NTPC and Hindalco Industries to see some action todayThe government has cancelled approvals of nine special economic zones, including that of Hindalco Industries, Essar and Adani as no satisfactory progress was made to execute the projects. The decision......click on news to read complete article.

CCEA defers its decision on revising gas prices to November 15
(25-Sep-2014)

CCEA defers its decision on revising gas prices to November 15In a major setback to the oil and gas sector, the Cabinet Committee on Economic Affairs (CCEA) has deferred its decision on revising gas prices, expected October-end, to November 15. The CCEA headed by......click on news to read complete article.

Four-member panel submits report on new gas pricing formula
(18-Sep-2014)

Four-member panel submits report on new gas pricing formulaA four-member panel of secretaries appointed by the government has submitted the much awaited report on a new gas pricing mechanism, which prescribes lower rate than the price approved by the previous......click on news to read complete article.

International Stock News
US markets close lower; stocks recover from session lows
(30-Sep-2014)

US markets close lower; stocks recover from session lowsThe US markets closed lower on Monday, recovering from early morning selling bout, as investor confidence was hit by violent unrest in Hong Kong and a rebound in consumer spending fueled speculation that......click on news to read complete article.

US markets closed higher on bargain hunting
(27-Sep-2014)

US markets closed higher on bargain huntingThe US markets closed higher on Friday on bargain hunting following Thursday's sell-off, which pulled all the three major averages down to their lowest closing levels in over a month. Sentiments remained......click on news to read complete article.

US markets plunge; Nasdaq sinks most since April
(26-Sep-2014)

US markets plunge; Nasdaq sinks most since AprilThe US markets dropped on Thursday, slapping the major benchmarks with their biggest one-day loss, with the Nasdaq plunging the most since April. Other worries were centered on the Russia-Ukraine and Mideast......click on news to read complete article.

 

     
  
Recent Equity & Shares News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.