NEW DELHI: GMR Infrastructure, which builds and manages airport terminals, is in a sweet spot. The stock that has rallied over 71 per cent in the last year, it still feels like investors are lapping it up, perhaps all thanks to your next summer’s Goa trip plans.
On Wednesday, the counter surged nearly 8 per cent amid a broader market rally. It is not just investors, analysts are also singing odes for it. Kotak Securities increased its target price by 10 per cent.
The company is building an airport in North Goa, which will cater to 77 lakh passengers initially, is 50 per cent complete and is being fast-tracked to be commissioned by August 2022. The eventual capacity will be 4-5 times. The commissioning of the recently awarded six-lane highway will bring beach destinations in North Goa within 40 minutes of the airport, Kotak said.
Goldman Sachs impact?
The demand for shares of CE Info Systems continued on the second day of the listing on bourses. Some believe this could be the impact of two bulk deals yesterday. This is despite the counter saw selling at highs yesterday.
CE Info Systems, which debuted on the bourses, also saw a number of big transactions. Fidelity Investment Trust bought 3,18,100 shares of the company at Rs 1404.47 per share. Goldman Sachs India Equity Portfolio also acquired 3,76,708 shares at Rs 1392.99 per share.
As of Wednesday’s closing, it traded at Rs 1,491 per share.
Building blocks
Shares from the realty sector continued to gallop as the sector has come out of a multi-year consolidation. A higher number of registration and rapid growth in residential buying is fueling demand for realty shares.
Nifty Realty ended the day up nearly 3 per cent. It was the best performing sector today.
“We expect the real-estate sector to do well for the long term, as we believe listed players keep increasing their market share in new launches and the South India market continues to do well on the back of strong new hiring from the IT sector,” said Yash Gupta, Equity Research Analyst, Angel One.
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