Stock market analysts have suggested a ‘Buy’ on GMR Infrastructure to achieve an intraday price target of Rs 257.

Analysts have given this intraday call after analyzing the stock’s previous performance. Traders can purchase the stock around Rs 243. The stop loss for the day is at Rs 245.

Yesterday (26 Dec), the stock has performed brilliantly for the whole day, and finally it marked its closure at Rs 247.75 on BSE. The outlook looks positive. If the stock market falls, leave the stock and forward your decision to the next trading session.

Recently, GMR Infrastructure has declared the placement of 165.23 million shares at a price of Rs 240 to QIB’s. The company also obtained board and shareholder sanction for lifting Rs 50 billion.

In another development, the Minister for Civil Aviation Praful Patel stated that the government would honor the Attorney-General`s opinion that GMR`s Delhi Airport can raise funds by way of deposits, and charge lower lease rentals for the commercial property to be developed adjacent to the Delhi International Airport.

The analysts believe that this is positive for the company and in line with their expectations.