GMR Infra slips as NHAI keen to disallow co from bidding

Shares of GMR Infrastructure fell more than a percent on Friday on reports that NHAI may bar the company from bidding for road projects in future.

The Financial Express reported that the ministry of road transport and highways and the National Highways Authority of India (NHAI) are weighing various options, including initiating procedures to debar GMR from upcoming road projects for a few years after stung by the "abrupt and unilateral" walkout of the GMR Group from the 555-km-long Kishangarh-Udaipur-Ahmedabad National Highway project alleging delays in approvals.

At 10:27 hours IST, the stock was down 1.2 percent to Rs 20.50 on Bombay Stock Exchange.

In the previous trading session too, the share fell 1.19 percent to close at Rs 20.75.

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