GMR Infra rallies 9.5% on bourses

Defying weakness in the stock market, shares of GMR Infrastructure on Monday soared by over 9 percent helped by value buying at lower levels.

Last Updated: Mar 25, 2013, 19:51 PM IST

Mumbai: Defying weakness in the stock market, shares of GMR Infrastructure on Monday soared by over 9 percent helped by value buying at lower levels.

The company's scrip settled at Rs 21.85, up 9.52 percent from its previous close on the BSE. Intra-day, the stock zoomed 15.28 percent to Rs 23.

At NSE, the scrip shot up by 9.02 percent to Rs 21.75.

The market value of the infra major rose by Rs 739 crore to Rs 8,504 crore. The stock had fallen in the last three trading sessions, losing over 5 percent.

Meanwhile, GMR Group's thermal power plant at Warora in Maharashtra has started selling electricity from its 300 MW unit commissioned in December last year.

"We are very happy to announce the commencement of power generation at our Warora Plant, the Group's first coal-based power plant, this will now generate revenue and enhance our shareholder value," G M Rao, Group Chairman of GMR Group had said on Friday.

In the broader market, the BSE benchmark Sensex ended at 18,681.42, down 54.18 points.

PTI