China Huaneng Group may be buying GMR infra stake in Intergen at about 1.4 Billion dollars. GMR Infra bought Intergen at 1.1billion dollars. Apart from making profit of 300 million dolllars GMR will use other money to reduce interest liability which was dragging the profits down.
Lower Intereset Outgo with higher revenue increase due to delhi airport t3 opening and restarting of barge mounted power plants are big plus.
Fund tie up for other airport and power projects will get a boost. If the deal goes through it will be a very big positive for GMR Infra.
Hopefully the bad days should be near soon and should start its upward climb.
Should be in a much better price by next quarter results.
GMR is up 4.5% in today's trade.
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