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Gupta secured the three required GM norms in just 24 days by playing three tournaments on the trot. In all three events, his rating performances were at 2599 and above.
The Maharashtra player also touched the 2500 Elo rating mark during the tournament.
To achieve the GM title, a player has to secure three GM norms and cross the live rating of 2,500 Elo points.
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Markarian won the top prize on the basis of a better tie-break score though he finished equal on 6.5 points with Gupta in the 10-player field. IM S Nitin of India with 5.5 points took fourth place.
Chess legend and former world champion Viswanathan Anand congratulated Gupta on becoming a GM.
”Been a great weekend for Indian chess again! Congrats to our new entrant … Now how long till we get to our 100th GM??” he tweeted.