Meanwhile, the BSE Sensex was up 48.44 points or 0.28% to 17,447.42

On BSE, 18.96 lakh shares were traded in the counter as against average daily volume of 26.51 lakh shares in the past one quarter.

The stock hit a high of Rs 16.40 and a low of Rs 15.80 so far during the day. The stock had hit a 52-week high of Rs 20.50 on 4 July 2011. The stock had hit a record low of Rs 9.56 on 19 December 2011.

The stock had outperformed the market over the past one month till 2 July 2012, surging 34.07% compared with the Sensex's 8.98% gain. The scrip, however, underperformed the market in past one quarter, falling 11.30% as against Sensex's fall of 0.45%.

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

GVK Power and Infrastructure is reportedly in discussions with a few private equity players in an effort to dilute stake in GVK Airport Holdings. It plans to raise about $600-650 million (Rs 3300-3500 crore) through the sale. GVK Airport Holdings operates the Mumbai and Bangalore airports.

As per reports, discussions are on with a few infrastructure-focused private equity majors such as Macquarie SBI Infrastructure Fund (MSIF), Morgan Stanley Infrastructure Partners and JPMorgan Asian Infrastructure Fund.

This is the second time that GVK Power and Infrastructure is looking for a buyer for the airports business. Earlier, Changi Airports International, a wholly owned subsidiary of the Changi Airports Group, backed out of investing Rs 2200 crore for a 26% stake in GVK's airport subsidiary, citing regulatory uncertainties.

GVK Power and Infrastructure had been progressively buying stakes from former partners in Bangalore International Airport (BIAL) and Mumbai International Airport (MIAL). It had acquired the stakes of Siemens, Larsen & Toubro and Bid Services of Mauritius. GVK is now the largest shareholder in both these airport projects.

On a consolidated basis, GVK Power & Infrastructure reported net loss of Rs 20.88 crore in Q4 March 2012, compared with net profit of Rs 34.81 crore in Q4 March 2011. Net sales rose 45.1% to Rs 657.59 crore in Q4 March 2012 over Q4 March 2011.

GVK Power & Infrastructure has business interests in airports, roads, power and resources.