Mid Cap Infrastructure Stock Jumps 10%, Hits 52-Week High For 4-Days In A Row

Mid cap stock operating in infrastructure sector, GMR Airports Infrastructure on Thursday witnessed a sharp surge of 10% intraday as financial performance improved significantly. Earlier, GMR Airports on August 14 announced 40% surge in gross revenue to Rs 2018 crore for first quarter ended June 30 of financial year 2024. It announced a gross revenue of Rs 1439 crore in the similar quarter a year ago.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) rallied 77% year-on-year (YoY) to Rs 753 crore for first quarter of FY 24. The company's profit after tax (PAT) declared at Rs 15 crore for the June quarter of fiscal year 2024 as against Rs 115 crore in the same period an year ago.

GMR Airports Stock Performance & Return: Current market price of GMR Airports Infrastructure share is Rs 65.40 apiece with intraday rally of 10.25% till 11:06 am. Its 52-week high price is Rs 66.20 apiece and 52-week low price is Rs 33.35 apiece, respectively. The company has a market capitalisation of Rs 39,475.08 crore.

GMR Airports Infrastructure shares soared 22% in last 1-week, witnessed a surge of 40% in last 1-month, rallied 76%, gained 93% in last 1-year, jumped 142% in last 2-years, and jumped 171% in last 3-years.

GMR Airports Infrastructure Hits Multiple 52-Week High: The stock has been hitting back-to-back 52-week high as shares have been soaring for the last few days. GMR Airports shares hit 52-week high today, August 23, August 22, and August 21. There is a spurt in volume by more than 3.30 times.

GMR Airports About: GMR Airports Infrastructure Limited [formerly known as GMR Infrastructure Limited] (GIL), a subsidiary of GEPL is engaged in development, operation and maintenance of airports along with offering integrated security solutions. The company operates through GMR Airports Limited (GAL) managing the Airports segments and RAXA Techno Security Solutions managing the security solutions. To further strengthen our capabilities across the airport sector, GMR Airports Infrastructure Limited [formerly known as GMR Infrastructure Limited] (GIL) has formed a strategic partnership with Groupe ADP giving the latter 49% stake in GMR Airports Limited (GAL), according to its official website.