GMR Airports: US investment firm GQG Partners has increased its stake in GMR Airports Infra from 4.74 per cent to 5.17 per cent. GQG Partners is known as Adani Bull on Dalal Street. GMR said in a regulatory filing that it has acquired more shares of GMR Airports on August 23, 2024. Due to this, its stake in the company has now increased to more than 5 per cent.
GQG had a 7.66 percent stake in GMR by 2023
GQG had a 7.66 per cent stake in GMR till the end of 2023. However, in July this year, due to corporate action, the company’s shareholding was reduced to less than 5 per cent. GMR’s stock performed well last year by giving a return of 58 per cent. On Wednesday, it closed marginally lower at Rs 94.66 on the NSE. Last month, Jefferies’ global equity strategist Chris Wood also added GMR Airports to his Indian portfolio. Jefferies made this investment on May 26. The firm believes that GMR’s stock will soon reach Rs 100.
GMR operates airports in Delhi and Hyderabad
GMR operates airports in New Delhi and Hyderabad. Both of these are among the busiest airports in India. Jefferies had said that GMR Airport is growing rapidly. There is every possibility of air traffic increasing in the country. Due to this, opportunities for travel retail will also increase. Along with this, the possibilities in the real estate sector will also be strong.
GQG has invested in these companies of India
At the end of the June quarter, GQG Partners, led by NRI investor Rajiv Jain, had increased its stake in 3 stocks of Adani Group – Adani Energy, Adani Enterprises and Adani Ports. Along with this, the biggest bet was placed on ITC. On the other hand, the company had reduced its stake in IDFC First Bank and Patanjali Foods in the first quarter of FY 2024.
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