/ GVK Power Jumps 6.4% After Arm's Plan To Raise $ 200 Mn ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 24 November 2016

GVK Power & Infrastructure Ltd is currently trading at Rs 5.81, up by Rs 0.36 or 6.61% from its previous closing of Rs 5.45 on the BSE after the media reports that GVK Airport Developers, an arm of the company, is likely to raise around $ 200 million in structured debt to refinance a part of its borrowings.

This move comes as the company has been looking at refinancing options for its existing loans, and the transaction with Fairfax Group to sell controlling stake in Bengaluru International Airport is yet to receive security clearance from the government, as per media reports.

The scrip opened at Rs 5.79 and has touched a high and low of Rs 5.96 and Rs 5.43 respectively. So far 1838238 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 860.66 crore.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 9.77 on 24-Nov-2015 and a 52 week low of Rs 4.13 on 06-Jun-2016. Last one week high and low of the scrip stood at Rs 5.96 and Rs 5.21 respectively.

The promoters holding in the company stood at 54.25 % while Institutions and Non-Institutions held 8.57 % and 37.18 % respectively. The stock is currently trading below its 50 DMA.
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