The stock erased all its gains and finally ended at Rs 55, down 0.5%. The counter clocked volumes of 550,000 shares on the BSE.
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(Updated at 0952hrs)
GMR Infrastructure has firmed up after a consortium led by it bagged a Rs 1,700 crore road project in Karnataka. The stock is trading at Rs 55, higher by about 1% on the BSE.
The project involves the four-laning of a 99 km stretch on National Highway-13 and will be executed on a build-operate-transfer (BOT) basis by the consortium. There is a concession period of 19 years, for which the consortium will maintain the road and collect toll.
GMR Infrastructure holds 51 per cent stake in the consortium, while Oriental Structural Engineers has a share of 49 per cent.
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