The
loss of Male International Airport from its portfolio has put GMR
Infrastructure in a fix even as there is no clarity on financial compensation.
“It
is a setback for GMR. We are still not clear as to how the financial liability
would be taken care of. Going by Maldives’ posture, they don’t have any respect
for international law and neither do they care,” said Ambeerish Baliga,
independent market analyst.
“In
such a scenario, it is doubtful as to how the lenders and GMR would be
compensated. How the company will absorb the loss? The GMR Infrastructure stock
has already corrected in the past few days and I don’t think it will fall
further,” Mr. Baliga said.
Major
hit
“The
company’s airport vertical has taken a major hit. According to information, GMR
wants to exit from Istanbul but it has not found a buyer. With four airports,
GMR was flying high in its airport business and this vertical is very crucial
for the company. There is a big question mark on the compensation,” said SP
Tulsian, independent market analyst.
He
said that the GMR stock would not fall further as it had already corrected from
Rs.30 few weeks ago to around Rs.20 now. Hours before the deadline to move out
of Male’s airport, GMR’s stocks on Friday closed with a loss of 3.03 per cent
at Rs.19.20 on the Bombay Stock Exchange.
http://www.thehindu.com/todays-paper/tp-business/gmr-now-banks-on-compensation/article4176754.ece
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