India's GMR Airports up on buying stake in Delhi airport
** Shares of GMR Airports Infrastructure GMRI.NS rise as much as 2.6%, last up 1.7% to 92.43 rupees
** Co bought 10% stake in Delhi airport for $126 mln from Fraport FRAG.DE; GMRI will have 74% stake after the deal completes
** Jefferies says deal is attractively priced; says it values Delhi airport at equity value of 17X the brokerage's FY25 EBITDA estimates and 7X its FY26 EBITDA estimates
** Rates GMRI "buy" with PT 106 rupees; two other brokerages rate the stock "sell" and "strong sell" and avg PT, including Jefferies, is 86.67 rupees - LSEG data
** Stock up 14.7% YTD
Reporting by Varun Vyas in Bengaluru
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