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6 months ago
BUZZ-India's GVK surges after winning bid to develop second Mumbai airport
February 14, 2017 / 4:32 AM / 6 months ago

BUZZ-India's GVK surges after winning bid to develop second Mumbai airport

** GVK Power and Infrastructure Ltd surges as much as 16.7 pct to highest in over a year

** Stock posts biggest intra-day pct gain in about four months

** GVK Power wins contract to develop a second airport outside Mumbai, to ease congestion and cater for surging demand

** Over 29.6 mln shares change hands in about 40 minutes of trading, versus 30-day average volume of 3.9 mln

** GVK, which operates airports in India's financial capital Mumbai and technology hub Bengaluru, outbid GMR Infrastructure for the 160 billion-rupee ($2.4 billion) Navi Mumbai project

** Shares of GMR Infrastructure fell as much as 4.5 pct in early trading

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