GVK Power & Infrastructure Ltd has informed that the company has divested its entire stake in its subsidiary, GVK Aviation Pvt. Ltd.

As a result, GVK Aviation (P) is no more a wholly owned subsidiary of the company from Sep. 30, 2008.

GVK Aviation Pvt. Ltd, founded in 2007, engages in the business of aviation, owning and chartering of private aircrafts and helicopters. 

In June 2007, the company acquired 100% equity stake in GVK Aviation, which became a wholly-owned subsidiary.

The shares of GVK power have plummeted over 50% in just two weeks. Presently, the scrip is going through a very bad time, but interested investor may pick this stock at current level, but only keeping in mind long-term investment horizon of about 2-4 years. The counter has good potential to prove itself as multi-bagger stock in coming years.