GVK Power hike by 4% after divestment of stake in BIAL

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GVK Power & Infrastructure Limited, a company from the Electric Utilities sector, saw positive development on the bourses. The stock of the company advanced by 4.3% or Rs 0.25 per share at Rs 6.07 per share, as of 1036 hours, in Monday’s trade.

The organization had as of late reported that it has stripped 33% of its stake in Bangalore Interational Airport Limited (BIAL) to Fairfax India Holdings Corporation.

The net continues from the divestment might be utilized for cutting down the obligation commitments of the organization.

The organization’s associates on the Indian bourses, NTPC, Orient Green Power Company Ltd., Advance Metering Technology Ltd., are likewise exchanging level to positive in Monday’s exchanging session.

Stock View:

GVK Power and Infrastructure Ltd is right now exchanging at Rs 6.06, up by Rs 0.24 or 4.12% from its past shutting of Rs 5.82 on the BSE.

The scrip opened at Rs 5.89 and has touched a high and low of Rs 6.16 and Rs 5.89 individually. So far 3166436(NSE+BSE) shares were exchanged on the counter. The present market top of the organization is Rs 919.09 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 7.7 on 14-Feb-2017 and a 52 week low of Rs 4.13 on 06-Jun-2016. Most recent one week high and low of the scrip remained at Rs 6.05 and Rs 5.81 separately.

The promoters holding in the organization remained at 54.25 % while Institutions and Non-Institutions held 8.22 % and 37.53 % separately.

The stock is right now exchanging underneath its 50 DMA.

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