MUMBAI Shares in GMR Infrastructure(GMRI.NS) fell 4.5 percent in early trade after Maldives cancelled its biggest foreign investment project, a $511 million deal with GMR to develop an international airport.
The cancellation of the deal signed in 2010 follows President Mohamed Waheed's failure to renegotiate terms, sources close to president's office have told Reuters. (Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)
Trending On Reuters
State Bank of India (SBI) reported its sharpest quarterly profit drop in five years on Friday but cheered investors by saying that fewer than feared of its loans risked turning sour. Read