Indian infrastructure stocks – including those with airport exposure, namely GMR Infrastructure and GVK Infrastructure – have been hit in recent days as investors flee the sector.
There are rising concerns over a lack of major new projects, a series of corruption scandals and rising fuel costs, commodity prices and borrowing costs. GMR and GVK fell a further 11.7% and 9.3%, respectively.
Elsewhere, Chinese airports stocks were also lower yesterday, including Shanghai International Airport (-2.3%), and Beijing Airport (-1.7%).
Selected airport daily share price movements (% change): 09-Feb-2011