GMR Infrastructure share price gained nearly three percent on May 10 after the supreme court upheld a judgment of the Bombay High Court that had quashed a letter dated 19 March 2020 by MIHAN India annulling the bidding process for the Nagpur Airport.
The concession agreement for the Nagpur Airport is expected to be executed at the earliest, the company said in a release.
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GMR had emerged as the highest bidder in the tender process conducted by MIHAN India for Nagpur Airport in 2019 and the letter of award was issued to the firm in March that year.
However, Maharashtra decided to cancel the tender process in March next year and MIHAN India issued a letter annulling the bid process which was set aside by the Bombay High Court in August 2021.
At 10:25 hrs GMR Infrastructure was quoting at Rs 34.35, up Rs 0.45 or 1.33 percent on the BSE.
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