GMR Infra share price gained over a percent in the morning trade on July 8, a day after the company said that it had completed the deal to sell 49 percent stake to France's Groupe ADP.
The stock, which has gained over 28 percent in the last three months, was trading at Rs 21.40, up Rs 0.20, or 0.94 percent. It has touched an intraday high of Rs 21.70 and an intraday low of Rs 21.35.
France's Groupe ADP has infused Rs 4,565 crore, which is the second tranche of investment, in GMR Airports Limited (GAL) to conclude its deal for a 49 percent shareholding in the company, an official statement said.
The GAL manages airports at Delhi and Hyderabad. On February 21, the company had announced that Groupe ADP would acquire 49 percent stake in the company for 10,780 crore.
In the first tranche, Groupe ADP had paid Rs 5,248 crore on February 26 to GAL for 24.99 percent stake.
"As per the revised Share Purchase Agreement, the second tranche of the investment for 24.01 percent of GAL has been structured in two parts, 1) A firm amount, immediately paid at the second closing, for a total of Rs. 4,565 Crore, including Rs 1,000 Crore equity infusion in GAL. 2) Earn-outs amounting to Rs 1,060 Crore, subject to the achievement of certain performance-related targets by GAL up to FY2024," it added.
According to Moneycontrol SWOT Analysis powered by Trendlyne, GMR Infra stock movement is showing strong momentum with price above short, medium and long-term moving averages. The company has been showing increasing for the past four quarters.
Moneycontrol technical rating is of the stock is bullish.
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