GVK Power Trades Higher by over 2% as Board Approves Remaining 10 Percent Stake Sale in Bangalore International Airport
Shital Jibhe / 05 Jun 2017
GVK Power & Infrastructure has recently reported that its board have approved selling its remaining 10% stake in Bangalore International Airport to Fairfax India Holdings Corporation for Rs 1290 crore and was trading higher by 2.19% at Rs 6.07 at 1019 hours on BSE.
GVK Power & Infrastructure has recently reported that its board have approved selling its remaining 10% stake in Bangalore International Airport to Fairfax India Holdings Corporation for Rs 1290 crore and was trading higher by 2.19% at Rs 6.07 at 1019 hours on BSE.
The announcement was made after market hours on Friday, 2 June 2017. GVK is a leading Indian conglomerate with diversified interests across various sectors including energy, resources, airports, transportation, hospitality and life sciences.
The benchmark indices in the market were trading almost flat on Monday. Sensex was trading lower by 2 points at 31275 levels while Nifty was trading higher by 9 points at 9662.
Compared to a net loss of Rs 105.59 crore in the Q4FY16, GVK Power & Infrastructure has posted a higher net loss of Rs 205.85 Cr for Q4FY17. Net sales increased by 4.1% to Rs 7.10 Cr in Q4FY17 versus Q4FY16.
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