Karvy Stock Broking Limited has maintained ‘Buy’ rating on GMR Infrastructure Limited stock to achieve a target of Rs 116 within 3-4 days.

According to Karvy, day traders can buy the stock between Rs 104-106 with a stop loss of Rs 100.

Shares of the company, on Monday (April 13), closed at Rs 106.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 0.69 and 161.74 respectively. The share price has seen a 52-week high of Rs 169.90 and a low of Rs 45.60 on BSE.

On April 02, GMR Infrastructure Ltd, which had bought 50% of Dutch power utility InterGen NV for $1.1 billion, may refinance the loaning amount taken for the acquisition in early 2011.

GMR Holdings, the promoter firm of the realty developer GMR Infrastructure, on April 01, has increased its holding stake in GMR Infra to 74.86% after getting hold of additional 14.5 lakh shares via open market transactions.

GMR Infra said that its promoter and holding company GMR Holdings has bought its 14.5 lakh shares in two parts.

After the completion of the acquisition deal, GMR Holdings holds 74.86%, or 136.29 crore shares, of the infrastructure firm.

Moreover, GMR Infrastructure had hired a former Temasek executive to head a new office in Singapore, which will focus on power projects in Southeast Asia.

GMR Infrastructure, on March 25, has got sanction from its directors for starting its construction business as a separate operating division.

The sources said that this construction division would primarily handle the company’s projects implemented through its divisions.