India's GMR Airports rises after February traffic update, contract win

GMR Airports (India)

16/03/2026 06:15

** Shares of GMR Airports Ltd GMRI.NS rise as much as 3.1% to 92.05 rupees

** Co says Feb passenger traffic up 0.3% y/y and aircraft movements up 1.8%

** Co also gets letter of award from Delhi International Airport Ltd (DIAL) to upgrade, operate, manage cargo terminal 1

** Adds, project will run on a revenue‑share model with DIAL until 2036, with co expected to pay about 3.4 bln rupees ($36.8 mln) in first full year of ops

** Mean rating by 7 analysts for stock is 'strong buy', median PT is 120 rupees - data compiled by LSEG

** GMRI last up 1.7%, cuts YTD losses to 14.5%

($1 = 92.4325 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

((meenakshi.maidas@thomsonreuters.com;))