GMR Airports shares shot up in green on Tuesday, November 19. This came to pass after the infrastructure company, specialising in airport operations in India, reported some positive numbers with regards to the number of passengers handled by it.
GMR Reports a Surge In Passenger Handling
GMR Airports is one of the few players in the Indian aviation market that controls some consequential airports, including the Delhi International Airport, which is the busiest airport in India.
GMR faces stiff competition from the Adani Group’s Adani Airport Holdings, which operates the Chhatrapati Shivaji Maharaj International Airport or CSMIA in Mumbai, the Mangalore Airport in Karnataka and the Trivandrum Airport in Kerala, apart from the others under its belt.
Coming to the company report, the GMR reports reported a 9.2 per year-on-year, including both domestic and international traffic. This took the overall movement to 71,598.
In addition, according to Motilal Oswal, the airport operators have maintained a healthy average of above 10 million passengers every month since December 2023.
GMR Shares Surge
Coming to the company performance at Dalal Street, the company shares opened at Rs 80.50 per share from the previous day’s close of Rs 78.01.
The share prices surged further before experiencing a minor dip. However, the prospects for the company continued to be in green.
The GMR Airports, listed as GMRINFRA, rose by 4.72 per cent or Rs 3.68. This took the overall value of Rs 81.69. In the past 5 trading sessions, the company shares have risen by 5.73 per cent.
The company is one of the largest airport operators in the world, with a total of 7 airports under its operations and over 300 routes. The group operates Delhi International Airport, Hyderabad International Airport, Goa International Airport, Bidar Airport and Nagpur Airport in India.
In addition, it also has an international presence with Kualanamu International Airport in Indonesia and the Mactan Cebu International Airport in the Philippines.