Meanwhile, the BSE Sensex was up 154.07 points, or 0.84%, to 18,411.19.

On BSE, 3.09 lakh shares were traded in the counter as against an average daily volume of 7.10 lakh shares in the past one quarter.

The stock hit a high of Rs 43 and a low of Rs 42.30 so far during the day. The stock had hit a 52-week high of Rs 53.75 on 7 December 2009 and a 52-week low of Rs 39.60 on 25 May 2010.

The stock had underperformed the market over the past one month till 18 August 2010, falling 7.07% compared with the Sensex's 1.68% rise. It underperformed the market in past one quarter, rising 0.12% as against 8.19% rise in the Sensex.

The mid-cap infrastructure company has an equity capital of Rs 157.92 crore. Face value per share is Rs 1.

According to reports, GVK Power & Infrastructure is expanding its power business and has lined up a slew of power projects and the equity infusion would fund this expansion.

On a consolidated basis, GVK Power & Infrastructure's net profit rose 2% to Rs 33.39 crore on 47.5% increase in net sales to Rs 489.86 crore in Q1 June 2010 over Q1 June 2009.