.

follow-on-google-news

The shares of this leading global infrastructure company gained up to 1.4 percent after the company planned to raise Rs 8 billion through the sale of bonds. 

With a market capitalization of Rs 46,965.69 Crores, The shares of GMR Airports Infrastructure Ltd, were trading at Rs 77.75 a share, an increase of 0.80 percent from the previous closing price of Rs 77.13 a share. 

According to the company filing, GMR Airports Infrastructure Ltd Planned to raise 8 billion rupees through the sale of bonds maturing in two years and 11 months. In November GMR Airports raised Rs 19.50 billion by selling bonds maturing in three years at a coupon of 13.2750 percent. 

Looking into the company’s performance revenue increased by 30 percent from Rs 1,584 Crore in Q2FY23 to Rs 2,064 Crore in Q2FY24. During the same period, net loss decreased from Rs 195 crore to Rs 190 Crore. 

Currently operating in the most lucrative Asian markets, GMR Airports Infrastructure Ltd. has emerged as the world’s second-largest private airport operator, boasting an integrated airport platform with extensive capabilities and a pan-Asian footprint. Up until 2040, the Indian aviation market is projected to expand at a rate of 7% annually. 

The Indian government kept increasing expenditures by funding infrastructure projects, offering subsidies, implementing a performance-based incentive program, etc. The Ministry of Civil Aviation projects that by 2030, there will be between 230 and 240 airports in India, up from the current 148. 

The government’s capex spending target was raised by roughly 33% to 7.5 lakh crore for FY 2022–2023 to encourage economic growth and revive private capital expenditure, with a focus on infrastructure and technology. 

To enhance regional air connectivity within India, the government has also planned to revitalize fifty airports. In addition, plans exist to build more water aerodromes, sophisticated landing grounds, and heliports. 

GMR Infrastructure primarily works on the construction, upkeep, and management of airports, power production, coal mining and exploration, highway development, and development. 

Written by:- Abhishek Singh

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

×