/ GMR Infra Decides To Divest Its Stake In Indonesian Coal Mining Companies ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 15 May 2017

The stock of GMR Infrastructure increased more than 1.5% in the early trading hours on Monday as it has entered into agreements for stakes divestment in its Indonesian coal mining entities. It is trading at Rs 16.90, up by 1.8% at 10:52 AM IST on the BSE.

It also hit an intraday high of Rs 17 per share on the BSE. The company’s subsidiaries GMR Energy Netherlands BV and GMR Infrastructure Overseas have entered into conditional share purchase agreement with PT Golden Energy Mines Tbk, Indonesia for sale of 100% equity shareholding, as per BSE filing.

The company will also sell mandatorily convertible bonds in PT Dwikarya Sejati Utama, PT Duta Surana Internusa, PT Unsoco and PT Barasentosa Lestari, according to BSE filing.

GMR Infrastructure Limited (GIL) is engaged in the generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.

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