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GMR Infra pares Q1 loss to ₹318 cr - The Hindu BusinessLine

GMR Infra pares Q1 loss to ₹318 cr - The Hindu BusinessLine
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Ahead of Market: 12 things that will decide stock action on Wednesday

ICICI Pru MF bets: ICICI Pru MF ends romance with IPO stocks; raises bets on energy PSUs

Explore Now NEW DELHI: As the domestic stock market came under selling pressure in April, fund managers at ICICI Prudential Mutual Fund got busy buying oil & gas explorers and select midcap names in April even as they rushed to completely exit some of the recent debutant stocks. The team led by S Naren bought nearly 5 crore shares of Hathway Cable & Datacom, which came out with an impressive earnings report for March quarter. Recently, Reliance Industries also sold some shares in the firm to trim its overall stake. Besides the Reliance group firm, India s second largest fund house also bought 1-3 crore shares of ONGC, Ashok Leyland, JM Financial and Axis Bank. The first two are being seen as re-rating candidates ahead of the emerging growth cycle.

AAI to offload residual stake in Bangalore and Hyderabad airports

The Airports Authority of India (AAI) has decided to sell the 13 per cent stake it holds in Kempegowda International Airport Bengaluru (Bangalore International Airport, or BIAL) and GMR Hyderabad International Airport (GHIAL) to raise funds. The authority will soon appoint a transaction advisor to conduct a valuation of AAI’s stake in the two airports in which Prem Watsa-owned Fairfax Group and Delhi-based GMR Infrastructure (GMR Infra) hold the largest stake. According to the shareholding agreement, the largest shareholders have the first right of refusal on the stake. Industry executives and analysts tracking the two firms said while Fairfax is a clear favourite to buy AAI’s stake, for GMR Infra which has a consolidated debt of over Rs 25,000 crore and is selling assets itself it may be challenging to buy the stake if the price is high.

Philippines USD10bn airport project scrapped: politics?

Premium Analysis Manila has long been regarded as an underachiever in aviation terms, the creaking Ninoy Aquino airport transporting far fewer passengers than peers at Singapore, Bangkok, Kuala Lumpur and Hong Kong, despite a high population to call on. Expansion at Ninoy Aquino and at Clark International, formerly a US military airbase, was going some way to redressing the issue. But then along came not one, but two, proposals for new airports, each to handle 100 million or more passengers each year. One of them, at Sangley Point, has been put on the back burner, although there will be a fresh tender.

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