Key Points
MUMBAI - Upping its bet on Indias infrastructure story, GQG Partners on Friday bought close to 5% stake in GMR Airports Infrastructure in a deal worth Rs 1,672 crore through the open market...
The shares were bought at Rs 59.09 apiece, a 4% discount to the previous closing price of the stock..
Besides GMR Airports in the transport infrastructure space, GQG Partners also has investments in various companies of ADani Group, including Adani Enterprises, which operates the Mumbai international airport...
The strong buying drove shares of the GMR Group company sharply higher in trade on Friday to hit the highest levels in over 14 years..
For the September quarter, GMR Airports Infrastructure reported a consolidated net loss of Rs 190 crore, against Rs 197 crore a year ago..
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