GMR Airports Infra shares jump 9% today; here's what technical charts hint at

GMR Airports Infra shares jump 9% today; here’s what technical charts hint at

Shares of GMR Airports Infrastructure Ltd surged 8.50 per cent to trade at a high value of Rs 92.34 in Friday’s deals. The stock saw heavy trading volume on BSE today as around 41.01 lakh shares were last seen changing hands. The figure was way more than the two-week average volume of 6.32 lakh shares.

Turnover on the counter came at Rs 37.30 crore, commanding a market capitalisation (m-cap) of Rs 54,546.84 crore. There were 3,48,596 sell orders against buy orders of 2,00,962 shares.

Technical analysts were bullish on the counter. Support could be seen at Rs 87, followed by Rs 81 level. On the higher side, a decisive close above Rs 93 is required more further upside in the near term.

“The stock can carry on its positive move further. With charts looking good, we suggest to buy and accumulate it for an upside target of Rs 98, keeping stop loss at Rs 81,” said Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher.

“GMR Infra shares can hit an upside target of Rs 100 in the near term. Stop loss will be placed at Rs 87,” said Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking.

“GMR Airports looked bullish on daily charts with strong support at Rs 87. A daily close above resistance of Rs 93 could lead it to a upside target of Rs 102 in the near term,” said AR Ramachandran from Tips2trades.

GMR Airports Infra is one of the country’s largest airport developers and operators with a huge portfolio of assets across energy, transport and urban infra sectors. It operates India’s two largest airports, Delhi and Hyderabad.

As of March 2024, promoters held a 59.07 per cent stake in the company.

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