Indonesian coal mine buy lifts GMR Infrastructure

DALAL STREET SPIKES

GMR Infrastructure ended 4.26 per cent higher at Rs 60 on Wednesday on news that the company is planning to buy a coal mine, PT Barasentosa Lestari, for $100 million in Indonesia. The mine is reported to have about 115 million tonnes of coal reserves.

The stock hit a high of Rs 66.20 and a low of Rs 58.90 during the day. The scrip reached a 52-week high of Rs 268.70 on December 6, 2007, and a 52-week low of Rs 45.60 on October 27, 2008. On BSE, 5,125,163 shares were traded compared with its two-week average daily volume of 2,427,787 shares.