Jefferies has maintained its buy rating on GMR Airports, setting a target price of ₹106, which represents a 30.9% upside from the current market price of ₹81.01. The brokerage clarified that recent media reports about a Supreme Court (SC) order were misunderstood. The order does not give the Airports Economic Regulatory Authority (AERA) decision-making authority on non-aero tariffs but instead allows AERA to participate in debates on challenging TDSAT judgments.
Jefferies sees the recent stock correction as a non-event and encourages investors to view the dip as a buying opportunity, given the potential upside in the stock.
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