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    Buy GMR Infra, target price Rs 25: Edelweiss

    Synopsis

    GMR Infrastructure Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 12826.38 Crore) operating in Infrastructure sector.

    GMRAgencies
    Promoters held 65.3 per cent stake in the company as of June 30, 2020, while FIIs held 20.6 per cent, DIIs 3.7 per cent and public and others 10.4 per cent.
    Edelweiss has given buy rating to GMR Infrastructure with a target price of Rs 25. The share price moved up by 0.70 per cent from its previous close of Rs 21.30. The stock’s last traded price is Rs 21.45.

    GMR Infrastructure Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 12826.38 Crore) operating in Infrastructure sector.

    Financials
    For the quarter ended 31-03-2020, the company reported a Consolidated sales of Rs 1947.90 Crore, down -2.15 % from last quarter Sales of Rs 1990.76 Crore and up 3.64 % from last year same quarter Sales of Rs 1879.40 Crore. The Company reported net profit after tax of Rs 994.84 Crore in latest quarter.
    GMR INfra-graph


    Investment Rationale
    The deleveraging post the stake sale in the airport vertical and clarity on the regulatory framework post the consultation paper in DIAL reinforce view that GMR is the most exciting play on the fast-growing Indian airport sector. While the pandemic will undoubtedly impact traffic in the medium term, the brokerage believes the company is well placed to withstand these challenges. It has maintained 'BUY/SO' with revised TP of Rs 25.

    Promoter/FII Holdings
    Promoters held 65.3 per cent stake in the company as of June 30, 2020, while FIIs held 20.6 per cent, DIIs 3.7 per cent and public and others 10.4 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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