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GVK power& infrastructure shares surged nearly 17 percent to register a fresh 52-week high of Rs 7.70, a day after the GVK group, which runs the Mumbai airport, won the contract to build the much-delayed Navi Mumbai International Airport (NMIA), pipping rival GMR group. The contract award comes decades after the state government first mooted the project. GMR Infrastructure shares, on the other hand, fell more than 4 per cent at day's



low.

"While GMR offered 10.44 percentage of revenue share, GVK has offered 12.60 percentage of revenue share, thus winning the bid," the City and Industrial and Development Corporation or Cidco said in a statement.

GVK-led Mumbai International Airport beat GMR Infrastructure, which runs the country's largest airport in Delhi, to emerge winner in the bid to develop the Rs. 16,000-crore airport in Navi Mumbai.   

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