LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
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
Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctions
(27-Mar-2015)

Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctionsThe government after getting a go ahead from the Supreme Court declared the winners of the recently concluded airwaves auction. Now the government can collect initial upfront payment of Rs 28,872 crore......click on news to read complete article.

Cadila Healthcare, Bharti Airtel and Idea Cellular to see some action today
(27-Mar-2015)

Cadila Healthcare, Bharti Airtel and Idea Cellular to see some action todayCadila Healthcare has purchased 50% shares of Zydus BSV Pharma from Bharat Serums and Vaccines and now Zydus BSV has become 100% subsidiary of Cadila Healthcare. Zydus Cadila is an innovative, global pharmaceutical......click on news to read complete article.

Govt to step up public spending on infrastructure, ease entry barriers for overseas investors
(26-Mar-2015)

Govt to step up public spending on infrastructure, ease entry barriers for overseas investorsFinance Minister Arun Jaitley has expressed his concern over slow growth of manufacturing sector and promised to step up public spending on infrastructure, ease entry barriers for overseas investors and......click on news to read complete article.

International Stock News
US markets snap four days losing streak
(28-Mar-2015)

US markets snap four days losing streakSnapping their four days losing streak, the US market closed higher on Friday due to a positive reaction to prepared remarks by Federal Reserve Chair Janet Yellen. In a speech at a San Francisco Fed conference,......click on news to read complete article.

US markets closed lower for fourth straight session
(27-Mar-2015)

US markets closed lower for fourth straight sessionThe US market closed lower on Thursday, declining for the fourth consecutive session, with the benchmark S&P 500 turning negative for the year and recording its longest losing streak since January.......click on news to read complete article.

US markets closed lower; S&P, Dow marks sharpest losses in two weeks
(26-Mar-2015)

US markets closed lower; S&P, Dow marks sharpest losses in two weeksThe US market closed lower on Tuesday, with Nasdaq Composite suffering its steepest decline since April 2014, as investors' dumped technology and biotech shares. The carnage on the Street marks the third......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.