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GMR Airports shares rise on strong October performance

Stocks
2 min Read Nov 19, 2024
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GMR Airports Infrastructure shares surged by 3.7% today, 19th November, on Tuesday, hitting an intraday high of ₹80.99 on the BSE. This rally followed the company’s October passenger traffic update, which showed impressive growth across its airport network. 

As of 9:36 AM, the stock was trading 2.95% higher at ₹80.35, compared to the BSE Sensex's rise of 0.91%. The company’s market capitalisation stood at ₹84,841.37 crore, with the stock’s 52-week range spanning ₹56.4 to ₹103.7 per share.

Passenger traffic sees significant growth

In its latest update, GMR Airports reported handling over 10.7 million passengers in October 2024, marking a year-on-year (YoY) increase of 9.2%. Hyderabad Airport alone recorded over 2 million domestic passengers, reflecting robust domestic travel demand. Total air movements during October rose by 9% YoY to 71,598.

For the year-to-date (YTD) period of FY25, the airline handled cargo volumes of 0.65 million metric tonnes, reflecting a 14.8% YoY increase. Since September 2024, GMR Airports has consistently handled over 1 lakh metric tonnes of cargo monthly.

Key updates on airport expansion

GMR completed the expansion of Mopa Airport in Goa, boosting its passenger capacity from 4.4 million to 7.7 million. This expansion aligns with the company’s commitment to enhancing passenger experience and catering to increasing demand.

GMR’s global footprint and sustainability efforts

GMR Airports is part of the GMR Group, a leader in global airport infrastructure development. The company manages key airports like Indira Gandhi International Airport (IGIA) in New Delhi and Rajiv Gandhi International Airport (RGIA) in Hyderabad. Internationally, it operates the Mactan-Cebu International Airport in the Philippines and is involved in the expansion of Istanbul Sabiha Gökçen International Airport in Turkey.

With a focus on sustainability, innovation, and passenger-centric services, GMR remains at the forefront of global airport management.

Stock performance and investor sentiment

Over the past year, GMR Airports shares have gained 33%, outperforming the Sensex's rise of 17.5%. The consistent growth in passenger traffic and cargo volumes reflects the company’s operational resilience. Investors keen to buy shares online are likely to view this positive trend as an encouraging signal.

Why the GMR Airports stock is worth watching?

  • Consistent growth:

    • Passenger traffic and cargo volumes have shown robust YoY increases.

    • Completion of Mopa Airport's expansion strengthens GMR’s infrastructure capabilities.

  • Market outperformance:

    • A 33% rise in stock price over the past year reflects strong investor confidence.

  • Global footprint:

    • A strategic presence in both domestic and international markets enhances growth potential.