GMR Airports' Acquisition Sparks Share Price Surge
GMR Airports Limited has witnessed a significant surge in its share price following its exclusive acquisition of IT services provider WAISL. This strategic move underscores GMR Airports' commitment to diversifying its portfolio and expanding its presence in the IT services sector.
The acquisition of WAISL aligns with GMR Airports' broader strategy of enhancing its capabilities and leveraging synergies across its various business verticals. By integrating WAISL's expertise and resources, GMR Airports aims to strengthen its position as a leading player in the IT services domain.
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Delhi airport is largest in the country with 100 million capacity
The Delhi International Airport has now officially become a 100 million capacity airport, the largest in the country. GMR Airports Infrastructure-led Delhi International Airport undertook expansion work in 2019 as part of Phase 3A expansion and the expanded Terminal 1 of the airport now has the capacity to handle 40 million passengers per annum.
The airport has three terminals. Terminal 1 now also has a baggage handling capacity of 6,000 baggage per hour from 3,240 earlier and 22 contact stands for passenger boarding bridges.
Other projects under Phase 3A include construction of..
GMR Airports secures Rs 8 bn funding from three financial institutes
GMR Airports, a major player in the aviation sector, has successfully raised Rs 8 billion through strategic funding from Standard Chartered, Aditya Birla Fund, and Varde Partners. This financial infusion underscores investor confidence in the aviation industry's recovery and highlights GMR's position as a key player in the sector's resurgence.
In a notable financial move, GMR Airports secured Rs 8 billion in funding from leading financial entities, signalling positive developments within the aviation landscape. The involvement of Standard Chartered, Aditya Birla Fund, and Varde Partner..
Noida Airport to be linked by expressway, rapid rail, and pod taxi
The construction of Noida International Airport, also known as Jewar airport, was in its final stages, and passenger services were expected to begin in October. The airport would be linked by six roads and a rapid rail-cum-metro, in addition to pod taxis.
Upon completion, the Noida airport was projected to be the largest in India and the third in the National Capital Region (NCR) after Delhi airport and Hindon airbase in Ghaziabad.
A 31-km greenfield expressway was being built to connect the airport to the Delhi-Mumbai Expressway at Ballabhgarh.
The National Highway Aut..
Nagpur Airport: Mihan Dream grounded, vantage point lost
Nagpur's unique and strategic central location was once lauded for placing it on the nation's aviation map. It was hailed for its efforts in creating a harmonized air traffic management system with continuous airspace over the city, alongside establishing a centralized cargo hub. However, Dr Babasaheb Ambedkar International Airport is currently mired in apathy and has seemingly vanished from the national radar across various parameters, barely meeting the standards expected of a tier-2 city airport.
The airport, bearing its international tag, serves merely two flights to two foreign de..