GVK Power & Infrastructure is currently trading at Rs. 7.54, up by 0.94 points or 14.24% from its previous closing of Rs. 6.60 on the BSE.
The scrip opened at Rs. 7.70 and has touched a high and low of Rs. 7.70 and Rs. 7.31 respectively. So far 34,70,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 7.70 on 14-Feb-2017 and a 52 week low of Rs. 4.13 on 06-Jun-2016.
Last one week high and low of the scrip stood at Rs. 7.70 and Rs. 6.45 respectively. The current market cap of the company is Rs. 1,197.04 crore.
The promoters holding in the company stood at 54.25%, while Institutions and Non-Institutions held 8.22% and 37.53% respectively.
GVK Power & Infrastructure’s subsidiary - Mumbai International Airport (MIAL), has won the bid for the much-delayed, discussed and debated Rs 16,000 crore airport project coming up in Navi Mumbai. The project will be carried out on public private partnership (PPP) basis, and CIDCO will incur pre-development work costs, which it will later recover from GVK.
The government had initially approved setting up the airport in 2007, but it ran into several environmental and land acquisition problems till the last stages of the final bid. Each stage has been delayed for months, pending clarity and clearances.
GVK Power and Infrastructure is an infrastructure development company. It engages in infrastructure and urban infrastructure projects. The company provides operation and maintenance services, manpower and consultancy services, and incidental services to owners of power plants, airports and infrastructure companies.