8 hrs ago
GMR Airports Rises 5% Amid Block Deal Reports
A large group of GMR Airports shares was traded in a block deal.
About 9.1 crore shares changed hands at an average of Rs 89.53 each.
The deal was worth around Rs 818 crore and involved nearly 0.87% of the company’s shares.
GMR Airports’ share price finished the day 5% higher, at Rs 92.17.
Religare Broking has set a target price of Rs 135 for the stock.
The brokerage expects airport traffic to be weak in the first half of FY27 and recover in the second half.
It also said refinancing could help lower borrowing costs.
It warned that disruptions, weak traffic and high debt remain risks.
About 9.1 crore GMR Airports shares changed hands in a block deal.
The shares traded at an average price of Rs 89.53, for a transaction value of around Rs 818 crore.
The reported stake sale represented nearly 0.87% of GMR Airports’ outstanding equity.
GMR Airports closed 5% higher at Rs 92.17, compared with its previous close of Rs 88; its market capitalization was Rs 97,322 crore.
Religare Broking set a target price of Rs 135 and cited expected refinancing and potential earnings growth, while noting risks including soft traffic and elevated leverage.
- Who
- GMR Airports and the parties involved in the reported block deal; the buyers and sellers were not identified.
- What
- Around 9.1 crore shares changed hands in a block deal, representing nearly 0.87% of the company’s outstanding equity.
- Where
- The article does not specify a location.
- When
- In the current session; the article does not provide a calendar date.
- Why
- The reason for the reported stake sale was not stated.
Key facts
- Shares traded
- Around 9.1 crore
- Average transaction price
- Rs 89.53 per share
- Transaction value
- Around Rs 818 crore
- Stake represented
- Nearly 0.87% of outstanding equity
- Closing share price
- Rs 92.17, up 5%; previous close was Rs 88
- Market capitalization
- Rs 97,322 crore
- Religare Broking target price
- Rs 135
- Management traffic outlook
- Traffic expected to remain soft in H1 FY27 before recovering in H2
Sources
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