GMR Infra gives up gains, slips 3.5%

The stock slipped 8% from its high to a low of Rs 170. It finally ended 3.5% lower at Rs 171. Over 3 million shares were traded on the counter today.
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(Updated at 1029 hrs)

GMR Infrastructure has surged 3% on a rise in Q4 net profit.

The stock opened 1% up at Rs 180. It soon surged 3.5% to high of Rs 184 and is now up 3% at Rs 183. Over 8,19,529 shares have been traded at the counter so far.

According to a release issued by the company to the BSE, the consolidated net profit increased 6.5% to Rs 53.24 crore in the quarter ended March 31, 2009 from Rs 50.02 crore in the corresponding quarter a year ago.

 

Total income surged 46.5% to Rs 1,327.07 crore in Q4FY09 from Rs 905.19 in the Q4FY08.