GMR Airports shares may rally up to 20%; check targets, reasons, ratings & more

Shares of GMR Airports inched higher on Monday as the stock was hovering around its 52-week high during the early session. Analysts, reading the technical charts, continue to remain positive on the stock and believe that the stock is headed for a 19-20 per cent upside, if bought within the desired range.

To recall, shares of GMR Airports hit its 52-week high at Rs 105.50 on Friday, November 21, entering the blue-sky zone for further upside potential. However, the stock settled at Rs 104 in the previous trading session but was around Rs 105 on Monday, with a total market capitalization close to Rs 1.10 lakh crore. The stock is up 15 per cent in the last four weeks.

Technical analysts believe that GMR Airports has delivered a strong weekly breakout above the key Rs 100 zone after months of consolidation, supported by rising volumes and a bullish higher-high, higher-low structure. The ascending triangle breakout and improving momentum indicators, including a strong RSI setup, reinforce sustained strength and one should buy the dips in it.

GMR Airport has delivered a strong breakout on the weekly charts, signaling a shift in long-term momentum. After spending months consolidating below Rs 100–102 resistance zone, it has finally closed above this ceiling with a decisive bullish candle. The broader structure highlights a well-defined ascending triangle, characterised by rising higher lows, indicating accumulation, said SMC Global.

"The breakout is supported by steady volume uptick, reinforcing strength without signs of exhaustion. As long as the stock sustains above Rs 94- 95 zone, the trend remains positive. Therefore, one can accumulate the stock on dips in range of Rs 102-103 for the expected upside of Rs 117- 119 levels with stop loss below Rs 94 level," it added.

GMR Airports has broken above a strong multi-resistance zone near Rs 100 on the weekly chart, supported by a bullish candle and rising volumes—signalling a positive bias and continuation of the medium-term uptrend. It is maintaining a higher high-low structure and trading well above its upward-sloping trendline, reinforcing a firm short-term bullish setup, said Axis Securities.

"Momentum indicators also align with this view, as the weekly RSI has broken out above its inverted head-and-shoulders pattern, validating the strength in price action. RSI is trending higher and holding above its reference line, indicating a positive bias. The above analysis indicates an upside toward Rs 111-116 levels. The holding period is 3 to 4 weeks," it added.

GMR Airports reported a contraction of net loss to Rs 37.09 crore, while its revenue increased 47.07 per cent on a year-on-year (YoY) basis to 3,670 crore in the September 2025 quarter. Its ebitda grew 56 per cent YoY to Rs 1,500 crore and operating margins improved to 39.43 per cent in the reported period.

On a fundamental basis, Elara Capital recently initiated coverage on GMR Airports, which is India’s largest private airport operator with 27 per cent of passenger traffic. It believes that the company is set to post a 9 per cent passenger traffic CAGR in FY25-28E led by rising traffic and a stronger international mix. It is an attractive entry into India’s only listed pure-play airport operator, it said.

"Diversification is set to rise on aero growth from tariff hike and capacity rise; non-aero reset and Groupe ADP partnership boosting retail, including duty-free, MRO, and cargo; land monetization offering multi year annuity revenue. Next growth phase, led by non-aero and commercial property, will shift GMRAIRPO from a utility to a consumption play," Elara added with a 'buy' rating and a target price of Rs 123.