GMR Infrastructure tumbled 7.44% to Rs 23 at 14:12 IST on BSE, with the stock sliding on equity dilution worries after the firm said its board approved rights issue of equity shares to the shareholders of the company for an amount upto Rs 1500 crore.
The announcement was made during market hours today, 16 September 2014.
Meanwhile, the S&P BSE Sensex was down 234.17 points or 0.87% at 26,582.39.
On BSE, so far 25.37 lakh shares were traded in the counter as against average daily volume of 28.44 lakh shares in the past one quarter.
The stock hit a high of Rs 25.15 and a low of Rs 22.80 so far during the day. The stock had hit a 52-week low of Rs 18.50 on 17 September 2013. The stock had hit a 52-week high of Rs 38.30 on 10 June 2014.
The stock had underperformed the market over the past one month till 15 September 2014, sliding 2.74% compared with the Sensex's 2.73% rise. The scrip had also underperformed the market in past one quarter, declining 25.04% as against Sensex's 6.3% rise.
The large-cap company has equity capital of Rs 436.13 crore. Face value per share is Rs 1.
GMR Infrastructure reported consolidated net loss of Rs 593.20 crore in Q1 June 2014, higher than net loss of Rs 326.03 crore in Q1 June 2013. Net sales rose 3.2% to Rs 2699.38 crore in Q1 June 2014 over Q1 June 2013.
GMR Infrastructure is a global infrastructure major with interests in airports, energy, highways and urban infrastructure sectors.
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