GMR Airports shares extended gains for the third consecutive session on Tuesday, June 16, gaining as much as 4% before cooling from elevated levels, according to CNBC TV18. The stock hit an intraday high of ₹110.5 and is currently trading 0.9% higher at ₹107.55, marking a 13% gain in the last one month and turning positive for the year. The positive momentum is driven by strong business fundamentals, with the company reporting total passengers crossing 20.5 million in financial year 2027 so far, the highest-ever total passenger traffic with record domestic flyers at 15.8 million. Delhi traffic accounts for 68% of the total traffic, with the growth mainly driven by domestic traffic expansion at Delhi Airport.
GMR Airports reported its business update for May, where total airport passenger traffic increased by 6.1% from the previous year, while domestic traffic was up 7.9%, as reported by CNBC TV18. International traffic last month was marginally up 0.4% from the previous year, due to temporary disruptions in flight operations caused by shifting airspace conditions amid continuing geopolitical tensions. The company's total passengers have crossed 20.5 million in the financial year 2027, so far, the highest-ever total passenger traffic with record domestic flyers at 15.8 million, with Delhi Airport driving the majority of growth.
Seven analysts have coverage on GMR Airports, with seven having 'buy' recommendations while one has a 'hold' rating, according to CNBC TV18. Kotak Institutional Equities has maintained its 'buy' recommendation with a price target of ₹118 apiece from ₹110 earlier, indicating an upside of 10.6%. Macquarie initiated coverage with an 'outperform' rating and price target of ₹125 per share, indicating an upside of 17.2% from its previous close, while Jefferies also has a 'buy' rating with a price target of ₹125 apiece. The positive analyst commentary is driven by material leakages in non-aero opportunities that GMR can eventually capture, with the company's captive passenger ecosystems driving passenger spends through retail and duty-free operations.
The Nifty has broken above the recent swing high near the 23,530 mark decisively, indicating a possible reversal in the immediate trend, according to Hitesh Rathi, Technical Analyst at Angel One. This technical development suggests the index may be shifting from a bearish to a bullish momentum, with the break above the key resistance level providing confirmation of the potential trend reversal. The latest data shows the index has reclaimed the 20-DEMA, adding further strength to the technical breakout.
The positive analyst commentary and strong business performance have driven GMR Airports to new highs, with the stock gaining momentum across multiple sessions. Macquarie sees an 18% EBITDA compound annual growth rate over FY26-29, while highlighting the company's large landbank offering upside through commercial development and ecosystem expansion. Jefferies listed key takeaways from management meetings, including three engines - aero (regulated returns), non-aero (now larger driver) and real-estate as key growth drivers. The combination of technical breakout and fundamental strength suggests continued positive momentum for both the Nifty and GMR Airports in the near term.
