GMR Airports Rallies Sharply Over Two Sessions

GMR Airports (NSE:

) closed at ₹99.30, capping a strong two-day rally. After dipping to ₹92.46 on the 16th (down slightly from ₹92.97 on the 15th), the stock surged 2.79% on the 17th to ₹95.04, then extended those gains with another 4.48% jump on the 18th to close at ₹99.30, a combined gain of roughly 7.4% off the recent low. This is a genuine two-day breakout, not a one-off bounce. Back-to-back gains of this size (2.79% then 4.48%) suggest building momentum and real buying interest, rather than a single day of short covering. The stock has fully reversed its mid-week dip. From the low of ₹92.46 on the 16th, it's climbed nearly ₹7 in just two sessions, a sharp turnaround from what had looked like a weak patch. Still some distance from the 52-week high. At ₹99.30, the stock remains below its 52-week high of ₹115.64, though it's now moving further away from its 52-week low of ₹84.11. This bucks the recent one-month trend. The stock had been down roughly 11% over the past month, so this two-day surge is a meaningful shift and worth watching to see if it continues. Valuation remains rich, with the stock trading at a very high P/E (200x-260x range) given its ₹99,000-103,000 crore market cap, a reminder that this is a growth/infrastructure story, not a value play.