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The stock quoted a 52-week high price of Rs 1704.9 and low of Rs 1005.7.

A total of 377,003 shares changed hands on the counter till 02:08PM (IST).

The stock traded at a P/E multiple of 27.02, while the price-to-book value ratio stood at 5.01.

We saw a domestic growth of about 12% in India in the last year. We do expect, as per various estimates, a growth of close to 8% in FY24. As far as export volumes are concerned, post removal of export duty in November 22, we have seen a steady increase of exports from the country and after five months of being a net importer, India has turned a net exporter in the month of March. Q3 to Q4, our exports have gone up from 1.3 million to 2.3 million as a country.

“This sustained performance of GMR Infra stock has been observed since early October 2021, illustrating a significant strength despite the overall correction in the market,” Omkar Patil, Technical Research Associate at GEPL Capital, said.

Sanjeev Sanyal, a member of PM EAC, believes that there is no galloping inflation in the system, and there are pressures, a lot of which are imported from oil prices. He thinks that the Reserve Bank of India (RBI) correctly paused the rate hikes and there is a case for holding horses and letting the old hikes speed through as the WPI has come down significantly.

On one hand, you have the US generic business where the raw material cost decline will obviously help the margins. But you would also have some pricing deflation which is normally called pricing pressure in the US.

FIIs have made a comeback and have been buyers in the last eight sessions. The maximum buying by foreign investors was seen in the last 3 days of March, when they poured in nearly half of the total money in the eight sessions.

This rally that we are talking about that everybody has been very apprehensive because for the past 14 sessions, we see that we have a green candle.