GMR Airports Shares Rise 2% After CCI Dismisses Anti-Competitive Allegations
After the inspection by the Competition Commission of India (CCI), the shares of GMR airports increased by about 2%, rejecting allegations of anti-competitive practices related to the allocation of approvals at Delhi airport.
They say that “the improving state of the Indian economy and proper valuation have transformed FIIs from sellers to buyers.”
GMR Airports Shares
The stock rose 1.6% to hit a daily high of Rs 78.69 on the BSE on Monday following the order by the Compulsory Commission of India (CCI), which dismissed allegations of anti-competitive practices against GMR Airports and Delhi Airport regarding the awarding of certain contracts, allegations of anti-competitive actions in relation to the allocation of certain awards against GMR Airports and Delhi Airport were rejected.
Delhi-based Indira Gandhi International Airport (IGIA) is operated by Delhi International Airport Limited (DIAL), headed by GMR Group.
An NGO ( Non-Government Organisation) had alleged that GMR Airports was adopting monopolistic behavior and charging excessive fees for accommodation related to parking and lounge services at IGIA.
Performance Of GMR Airports Shares
The stock has declined 18% in the last six months but gained 94% over the last two years. The company’s market capitalization stands at Rs 81,747 crore. GMR Airports share closed up 1% at Rs 77.45 on BSE, while the benchmark Sensex gained 0.73%.
GMR Airports is an airport developer and operator that runs airports in India, Indonesia, and Greece. Which is one of the biggest private airport companies in India. Many important and famous airports in India come under this.
FAQs:-
How Many Airports Are Under GMR?
GMR Airports operates, controls, and maintains many airports, such as Delhi International Airport, Hyderabad International Airport, Mactan Cebu International Airport, and the new Greenfield Airport in Goa.
What Is The Full Form Of GMR?
The full form of GMR is the GMR group, named after Grandhi Mallikarjuna Rao, the founder of GMR.
Is GMR Private Or Government?
GMR group is a private infrastructure company, although both private and public airports come under it.