LIC-backed multibagger penny stock: This airport infrastructure company enters into binding agreement with NIIF for investment worth Rs 675 crore; know more here!
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 36 per share.
In a key development for Bhogapuram International Airport, GMR Airports and NIIF signed a deal for NIIF to invest up to Rs 6.75 billion in GVIAL, the project's special purpose vehicle. This builds on their 2022 partnership for NIIF to invest in three GMR airport projects. Marking NIIF's second airport investment after GMR Goa, this collaboration strengthens Bhogapuram's development, aiming to transform Visakhapatnam into a global investment hub.
In 2020, GVIAL landed the 40-year concession to build and run the Bhogapuram International Airport (BIA), north of Visakhapatnam. Envisioned to become the biggest airport in Andhra Pradesh, BIA is part of the national infrastructure plan and will initially cater to 60 lakh passengers, scaling up to 4 crore eventually.
With NIIF investing through convertible debentures, BIA promises a world-class passenger experience, drastically improving air travel in the region. This project will not only fuel northern Andhra Pradesh's connectivity and infrastructure but also align with national goals of enhanced air travel, particularly in smaller cities. GVIAL is poised to be a key driver of Andhra Pradesh's economic growth for years to come.
GMR Airports Infrastructure Ltd is mainly engaged in the development, maintenance and operation of airports, generation of power, coal mining and exploration activities, development of highways, development, maintenance and operation of special economic zones, and construction business including Engineering, Procurement and Construction (EPC) contracting activities.
Today, shares of GMR Airports Infrastructure Ltd gained 6 per cent to Rs 77.77 per share from its previous closing of Rs 73.39. The stock’s 52-week high is Rs 79.47 and its 52-week low is Rs 36. The company has a market cap of over Rs 45,000 crore with a 3-year stock price CAGR of 50 per cent.
As of September 2023, Life Insurance Corporation of India (LIC) owns a 1.72 per cent stake in the company and till told they have gained over 90 per cent from this stock. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 36 per share and investors should keep an eye on it.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Related articles
-
LIC-backed multibagger airport infra stock entered into a SPA to acquire 4,60,000 shares of Waisl Limited
-
Rs 33,700 crore order book: LIC-backed multibagger stock below Rs 50 hit fresh 52-week high on January 09; Toll collection increased 26 per cent YoY!
-
29,000 per cent multibagger returns: This small-cap company receives order from Department of Tourism, U.T. Administration of Lakshadweep; scrip hit 52-week high!
-
LIC’s portfolio gains Rs 36,71,933 from this multibagger penny stock under Rs 10 in just 1 day; Company announces bonus share and expands into beer & whiskey production!
-
Multibagger penny stock below Rs 70: This airline company takes flight with a strategic Rs 22,40,00,00,000 capital raise – Details inside!
-
LIC-backed multibagger railway logistics stock: This company signs an MoU with Schenker India Private Limited – know more here!
-
37,600 per cent returns in this multibagger stock: This EV micro-cap company is likely to raise funds through preferential issue for business expansion!
-
Ashish Kacholia’s portfolio multibagger stock with 5,000 per cent returns; Board likely to raise funds via preferential issue!
-
Back-to-back upper circuits & 52-week highs in this multibagger penny stock with Rs 361 crore order book; Board likely to announce fundraising – FIIs bought 1 crore shares!
-
3,100 per cent returns & FIIs increase stake: This multibagger iron & steel company to raise funds: Preferential issue, QIP, GDR, ADR or other options!
-
Ashish Kacholia’s portfolio multibagger penny stock under Rs 40 with 1,200 per cent returns; Board likely to raise funds via preferential issue for business expansion!
-
900 per cent returns & FIIs increase stake: This multibagger small-cap company embarks on growth path with Rs 124,74,00,000 fundraising for capacity expansion!
-
Penny stock under Rs 5 jumps 18 per cent as it is likely to raise funds up to Rs 40,00,00,000 after acquiring 98 per cent equity of MSR Apparels Private Limited!
-
1:1 Bonus Share: LIC-backed multibagger penny stock at Rs 4.07; Board allots 15,36,24,538 fully paid-up rights equity shares
-
52-week high alert: This multibagger Semiconductor Software company got approval for DLI application for the development of a smart energy meter IC from Government of India
-
Rs 4,75,800 crore order book: LIC-backed multibagger civil construction company bags offshore order between Rs 2,500 to Rs 5,000 crore from ONGC
-
Multibagger penny stock at Rs 42 with 1,800 per cent returns: This micro-cap company imports new high-tech machinery worth Rs 1 crore to boost production and enter new markets
-
Adani Group-backed aerospace & defence company signs landmark cooperation agreement with EDGE Group
-
From Rs 0.23 to Rs 2.27 per share in just 3 years & Stock Split from Rs 10 to 1 done last year: Multibagger penny stock gains over 4 per cent on July 11; do you own it?
-
Low PE, high ROE & high ROCE stock at Rs 123 zooms over 5 per cent in just 1 day – Company from IT-Software Industry; PAT jumps over 100 per cent!