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Thursday, 25 May 2017

GMR Infrastructure Limited has rebound from its low in past few trading session. The stock is seen to be revived from its selling pressure.

The share slipped after the company sold its stake in Indonesian coal mining entities. Two subsidiaries of the company, GMR Energy Netherlands BV and GMR Infrastructure Overseas Ltd have entered into conditional share purchase agreement with PT Golden Energy Mines Tbk, Indonesia, as reported by the leading national business daily.

The stock had slipped by around 14% after this news came into the markets. However, some revival is seen in the Thursday’s trading session.

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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