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Shares of GVK Power & Infrastructure Ltd gained about 7.8 per cent to trade at Rs 15.42 on the BSE today.
The market seems to be reacting positively to the Hyderabad-based diversified infrastructure company’s move to reconsider the Shivpuri-Dewas National Highway project in Madhya Pradesh.
If the company goes ahead with the move to back off the project due to delay in securing clearances and hurdles in implementation, it is likely to save on equity.
Already the GVK Group and National Highways Authority of India have got into a situation where they do not agree with the contention of each other.
Recently, GMR Infra has decided to terminate the contract with NHAI on a major expressway project citing difficulties in execution due to delay in securing mandatory clearances and hurdles in implementation.
>rishikumar.vundi@thehindu.co.in
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