Meanwhile, the BSE Sensex was down 130.96 points, or 0.83%, to 15,717.84.

On BSE, 1.80 lakh shares were traded in the counter as against an average daily volume of 5.78 lakh shares in the past one quarter.

The stock hit a high of Rs 23.40 and a low of Rs 22.90 so far during the day. The stock had hit a record low of Rs 17.70 on 13 December 2011. The stock had hit a 52-week high of Rs 45.90 on 7 January 2011.

The stock had outperformed the market over the past one month until 7 January 2012, gaining 7.33% compared with the Sensex's 6.09% fall. The scrip had, however, underperformed the market in past one quarter, falling 12.36% as against 2.36% fall in the Sensex.

The large-cap infrastructure developer has an equity capital of Rs 389.24 crore. Face value per share is Re 1.

GMR Infrastructure operates the Male International Airport. In December 2011, a Male civil court had stopped GMR from collecting airport development charge (ADC), saying it was identical to existing airport service charges being collected from passengers. GMR, which is overseeing the renovation of the airport, had earlier tried to include ADC in the airline ticket price, but the International Air Transport Association (IATA) had disallowed it.

According to the agreement, GMR Infrastructure is allowed to charge $25 per passenger from the annual departing passenger count of one million, and a $2 insurance charge at the check-in counters starting January 2012.

In June 2010, the GMR-led consortium won a bid from the Maldives government to build, operate, modernise and expand the Male airport for a period of 25 years, which was extendable by 10 years. GMR holds a 77% stake in the international airport through a joint venture between GMR and Malaysia Airports Holdings Berhad.

On a consolidated basis, GMR Infrastructure reported a net loss of Rs 62.53 crore in Q2 September 2011, compared with net profit of Rs 71.12 crore in Q2 September 2010. Net sales rose 48.3% to Rs 1812.25 crore in Q2 September 2011 over Q2 September 2010.

GMR Infrastructure (GIL) is a Bangalore-headquartered global infrastructure major with interests in energy, highways, airport businesses and urban Infrastructure. GIL has successfully employed the public-private partnership model to build a portfolio of high quality assets.