Buy GMR Infrastructure: Equity99
On the back of this improved performance and technical structure we are recommending a buy for short to medium term, says Sumit Bilgaiyan of Equity99.
August 20, 2018 / 11:27 AM IST
GMR Infrastructure has posted quite healthy numbers in Q1FY19 and it has also successfully operationalised Terminal 2 of Cebu Airport on July 1, 2018. Airport sector continues to witness high traffic growth with 14 percent growth as compared to the corresponding period last year.
Non-aero revenues grew by 20 percent in Delhi airport and 16 percent in Hyderabad airport as compared to the corresponding quarter. Hyderabad airport clocks a profit of Rs 185 crore as against Rs 108 crore for the corresponding period.
Energy sector maintains the performance on account of higher PLF in both Kamalanga & Warora power plants. Warora profit increased to Rs 15 crore from Rs 6 crore last year. Kamalanga made Cash profit of Rs 43 crore as against cash profit of Rs 18 crore during corresponding quarter last year. After strong consolidation in narrow range stock has given upward break out Friday with huge volume cluster.
On the back of this improved performance and technical structure we are recommending a buy for short to medium term.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on Moneycontrol are their own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.