Shares of IRB Infrastructure Developers Limited gained over 4% today. The stock has witnessed heavy buying activity from investors. The company has announced impressive quarterly results. The company also won a Rs 4,428 crore project in Madhya Pradesh. In the last six months, the stock has gained about 20%.
Today, the stock opened at Rs 35.69, with a high and low of Rs 38.40 and Rs 35.20, respectively. The stock is currently trading at Rs 37.50, which increased by 4.98%. The stock has a 52-week high of Rs 38.40 and a 52-week low of Rs 22.56. The company has an ROCE of 8.67% and an ROE of 5.43%, with a market capitalization of Rs 22,616 crore.
IRBI Infrastructure Trust has secured a Rs 4,428 crore project from the NHAI for the development and operation of the 316 km (1,264 lane km) Lalitpur Lakhnadon NH44 highway. This project will boost IRB’s asset base to Rs. 75,000 crore and solidify its position as the largest private player in India’s TOT space. The highway, spanning prominent cities in Madhya Pradesh, holds immense traffic potential due to upcoming industrial corridors and its strategic location connecting key states.
IRB Infrastructure Developers Limited reported a strong second quarter for FY24, with net sales growth of 29.94% to Rs 1745.00 crore, compared to Rs 1,342.95 crore in the same quarter last year. The operating profit also experienced a significant increase of 21.44%. The net profit for the quarter stood at Rs 171.04 crore, which was Rs 109.67 crore in the previous year’s same quarter.
IRB Infrastructure Developers Limited (IRB) is a leading infrastructure development company in India, with a strong track record of executing and operating complex projects. The company has a portfolio of over 15,000 lane km of highways, making it one of the largest highway operators in the country.
The stock also delivered multibagger returns of over 200% in the last three years. It has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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