Shares of GMR Airports rose nearly 2% on Thursday, trading at Rs 90.08, up 1.61% or Rs 1.43 from the previous close of Rs 88.65 as of 9:44 AM. The market capitalization stood at approximately Rs 94,998 crore. The stock recorded a day range between Rs 88.74 and Rs 90.55, while its 52-week range has been Rs 67.75 to Rs 97.00. The average trading volume is around 11.32 million shares.
The rise comes after GMR Airports Infrastructure Limited announced that its subsidiary, GMR Hyderabad Aerotropolis Limited, received a Letter of Award (LoA) from Delhi International Airport Limited (DIAL) for the operations and maintenance (O&M) of Cargo City at Indira Gandhi International (IGI) Airport until 2036. This long-term contract is expected to strengthen GMR’s position in the cargo handling segment and enhance its operational capabilities at one of India’s busiest airports.
The Cargo City project is part of IGI Airport’s expansion strategy to boost cargo capacity and streamline freight handling services. The agreement ensures GMR’s involvement in managing the facility’s operations, providing services to both domestic and international cargo carriers.
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