GMR Infra gains on plans to bid for Philippines airport

According to reports the company plans to jointly bid with Megawide Construction Corp for an airport development project in the Philippines

Shares of GMR Infrastructure were up nearly 2% on reports that the company has reached with an agreement with Megawide Construction Corp to bid for an airport development project in the Phillipines.

According to media reports, GMR Infrastructure has reached an agreement with Philippines based Megawide Construction Corp to jointly bid for the expansion and development of Mactan-Cebu International Aiport in the Philippines.

The stock touched an intra-day high of Rs 22.30 and a low of Rs 21.30 on the BSE so far.

A combined volume of over 3.3 million shares were traded on both the Bombay Stock Exchange and National Stock Exchange.