GVK Power and Infrastructure Ltd surged as much as 16.7 per cent to highest in over a year as the company has won a bid to develop second Mumbai airport.
The stock posted its biggest intra-day percentage gain in about four months.
GVK Power has won a contract to develop a second airport outside Mumbai to ease congestion and cater for the surging demand.
Over 29.6 millioin shares change hands in about 40 minutes of trading, versus 30-day average volume of 3.9 million.
GVK, which operates airports in financial capital Mumbai and technology hub Bengaluru, outbid GMR Infrastructure for the Rs 16,000-crore ($2.4 billion) Navi Mumbai airport project.
Shares of GMR Infrastructure fell as much as 4.5 pct in early trading.