GVK Power Up By 4% After Divestment Of Stake In BIAL

GVK Power & Infrastructure Limited, a company from the Electric Utilities sector, witnessed positive movement on the bourses. The stock of the company advanced by 4.3% or Rs 0.25 per share at Rs 6.07 per share, as of 1036 hours, in Monday’s trade.

The company had recently announced that it has divested 33% of its stake in Bangalore Interational Airport Limited (BIAL) to Fairfax India Holdings Corporation.

The net proceeds from the divestment shall be used for bringing down the debt obligations of the company.

The company’s peers on the Indian bourses, NTPC, Orient Green Power Company Ltd., Advance Metering Technology Ltd., are also trading flat to positive in Monday’s trading session. 

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