GMR Infrastructure share price today Rise of 6 percent to reach new 52-week high ₹40.75 per. Infrastructure shares opened with a fall today ₹0.05 per equity share but soon gained momentum and hit an intraday high to set a new 52-week high ₹40.75 per stock level. According to stock market experts, this rise in GMR Infrastructure shares can be attributed to two major reasons – Government of India’s (GoI) approval to increase UDF (User Development Fee) with effect from 1st April 2022 and airport business. News in GMR Price Unlocked Plans. He said the stock has given a fresh breakout at ₹40 and it can go up ₹50.
Speaking on triggers in favor of GMR share price hike; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “GMR shares are rising due to two major reasons – the Government of India has approved the increase of UDF for both domestic and international passengers with effect from 1st April 2022 and regarding GMR in its airports. There is a buzz in airport unlocking mood. Business. The growth in UDF is acting as a short-term positive sentiment, while DII and FII are getting attracted by its value unlocking plan in the airport business for the long term. “
Avinash Gorakshakar of Profitmart Securities said that from April 1, 2022, domestic passengers will have to pay ₹480 instead of existing ₹281 While international travelers will pay ₹instead of 700 ₹393. Hence, it is going to increase the airport revenue of GMR from the next financial year. He added that long-term investors like DIIs and FIIs are also looking at GMR stocks as GMR Infrastructure plans to unlock the value of its airport business in the near future. If this happens, it will be a big long term trigger for the stock.
Advising investors to buy GMR shares at current levels; Sumeet Bagadiya, Executive Director, Choice Broking said, “GMR Shares gave fresh breakout today ₹40. It Might Go Too Soon ₹50 per share level. Shares of GMR Infra can be bought at current market price for immediate target ₹45 to ₹maintain stop loss at 50 ₹36 levels.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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