GVK scrip jumps 16% to Rs 8.61 on Friday

Company had in June announced the sale of its residual stake in BIAL for Rs 1,290 cr

GVK Power and Infrastructure's shares jumped 16 per cent on Friday to Rs 8.61 on the BSE exchange. The rise has been 65 per cent over a month, after the company announced residual stake sale in Bangalore International Airport Ltd (BIAL) for Rs 1,290 crore on June 2.

Though a highly indebted company, GVK did not figure in the list of 12 major bad loan accounts that were listed by the Reserve Bank of India (RBI) earlier this month for initiating of insolvency proceedings. This is expected to keep investor hope alive on the company's possible turnaround, which also hinges on