GMR‍‌‍‍‌‍‌‍‍‌ Airports Stock Price Jumps Over 6 Percent as Heavy Buying and Early Block Deal Boost Momentum

New Delhi, November 18: GMR Airports Limited share price  (BSE: 532754 NSE: GMRAIRPORT) share price went up sharply in Tuesday’s session; rising more than 6%. Most of the rally’s fuel came from the Morning Block Deal Window; where the buzz about a big transaction paved the way for the rest of the session with fresh funds and new buyers. The steady price during this window served not only as a benchmark for the market to follow. But also indicated a significant inflow of funds from institutional investors for the day.

Intraday Momentum Lifts the Stock to a New 52-Week High

This stock hit a new 52-week high of ₹104.85 after the block deal. The block deal was the rally’s ignition point, and thereafter, the session witnessed strong buying power. As of 3:10 pm IST, the stock was trading 6.17% higher at ₹103.71. The day’s range remained firm between ₹97.50 and ₹103.71, while the VWAP was at ₹101.66. This indicated that the buying pressure was continuous throughout the day. In fact, this stock has come a long way from its 52-week low of ₹67.75 on February 28. Depicting a striking recovery over the last few months. The improvement in market sentiment has been attributed to a revival of investor interest. Especially in the broader midcap segment, and stable performance from airport operations.

GMR Airports Limited, whose shares have been publicly traded since August 2006, is a major player in the airport infrastructure and airport services sectors. It is among the stocks that make up the NIFTY Midcap 50 index, which has been attracting a lot of investor attention lately.

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