GVK Power rises on block deal execution

DALAL STREET SPIKES

The stock of GVK Power & Infrastructure rose 3.60 per cent to close at Rs 24.45 on the Bombay Stock Exchange (BSE) after a block deal of 678,000 shares were executed at Rs 25.50 a share. As per recent reports, GVK Power & Infrastructure (GVKPIL) is set to complete its Rs 2,069-crore Alaknanda hydro power project in Rishikesh within 48 months, though the target construction time was 52 months.

Around 15 months of construction has already been completed, the reports added. The stock touched a high of Rs 25.80 and a low of Rs 24.70 on a volume of 20 million share on the BSE.