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The agreement was signed through a special purpose vehicle Navi Mumbai International Airport Private Ltd (NMIAL), a step down subsidiary of GVKPIL.
GVKPIL through its subsidiary Mumbai International Airport Private Limited (MIAL) holds 74%, while CIDCO holds the balance 26% in equity capital of NMIAL. The initial concession period is 30 years from the appointed date, which is extendable for another 10 years, the company said in a press release.
The stock trading at its 52-week high price has rallied 10% in past two days. In past one month, it surged 40% against 3.5% rise in the S&P BSE Sensex.
The trading volumes on the counter more than doubled with a combined 8.76 million shares changed hands on BSE and NSE till 01:41 PM: There were pending buy orders for 11,492 shares, the exchanges data shows.