GMR Airports Infra gains on 15% rise in passenger traffic for Dec

GMR Airports Infrastructure shares gained 1 percent in early trade on January 17 as the company saw a 15 percent on-year rise in passenger traffic in December.

Around 10.98 million passengers passed through the airports run by the company in Delhi, Hyderabad, Goa, Indonesia and the Philippines in December 2023. On a month-on-month basis, this marked a 10.5 percent rise, led by the traffic from the festive season.

As of 9.45am, the GMR Airport Infra shares were trading at Rs 85.15 apiece, higher by 0.95 percent on the BSE, compared to the previous session’s closing price.

A total of 68,095 aircraft movements were seen in the month, up 8.3 percent from the last year, and 6.2 percent higher than November 2023.

In a filing with the bourses, GMR Airports said that the Delhi airport traffic continues to trend upwards, with the firm handling the highest monthly traffic of 6.6 million passengers. So far in FY24, over 54.5 million passengers have travelled through airports operated by the company.

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In December 2023, foreign portfolio investor GQG Partners Emerging Markets Equity Fund bought around 28.29 crore equity shares, amounting to around 4.7 percent stake through open market transactions.

The total deal was worth Rs 1,671 crore, according to exchange information. Nomura India Investment Fund and Stichting Depositary APG Emerging Markets Equity Pool also recently bought a stake in the company. As of September 2023, promoter holding in the stock was 59 percent, while FII held around 28.01 percent stake.

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