Karvy Stock Broking Limited has maintained ‘Buy’ rating on GMR Infra stock to achieve a target of Rs 185 within 1-2 days.

According to Karvy, interested traders can buy the stock above Rs 172 with a strict stop loss of Rs 172.

If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 190.
 
Shares of the company, on Monday (June 01), closed at Rs 164.80 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 0.69 & 257.97 respectively.
The share price has seen a 52-week high of Rs 206.45 and a low of Rs 68.10 on BSE.

The stock has great potential to rise on the back of healthy growth plans and strong operating capabilities.

GMR Group signed up a contract with InterGen NV, an international power producer, to get hold of Intergen`s complete stake in Island Power. Island Power is a private electric utility based in Singapore.

On a Build, Operate and Transfer basis, GMR Infra led consortium, on 28 May, has pocketed the Hyderabad-Vijayawada highway project through international competitive path.

GMR Infra’s group has received letter of award from National Highways Authority of India (NHAI).

GMR Infra, on May 11, announced that its board has okayed the plan to raise funds via issue of equity shares / GDRs / ADRs / FCCBs and / or such other securities for a sum not surpassing Rs 50 billion either through preferential issue or qualified institutional placement.

An arm of GMR Infra, GMR Hyderabad International Airport (GHIAL) has decided to establish an aerospace park in Hyderabad covering up over 250 acres, although the aviation division is moving through turbulent times.
 
GMR Infrastructure, in May 2009, said that it would raise Rs 20-30 billion growth capital through private equity route.

It is discovered that the company will lift up its capital to bid for new projects in highways and energy that are projected in the next 6-8 months after the formation of new administration.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Reliance Infra, Maytas Infra and IVRCL Infrastructures.