Multibagger Infra Stock To Mull Dividend On Aug 9, Buy Recommended For TP Rs 84: PL

IRB Infrastructure Developers Ltd shares today witnessed decline of over 5%. Current market price of IRB Infrastructure Developers shares on BSE is Rs 60.68 per share. The company's market capitalisation stood at Rs 36,644.65 crore. Board of Directors of IRB Infrastructure Developers will convene meeting on August 9, 2024 to consider financial results and interim dividend, if any. IRB Infrastructure Developers shares gave attractive returns of 133% in last 1-year. More details given below:

IRB Infrastructure Developers To Consider Results, Interim Dividend: As per the regulatory filing of IRB Infrastructure Developers issued as on August 5, 2024, "Please note that the Meeting of the Board of Directors of the Company will be held on Friday, August 9, 2024, to consider, inter-alia:

a) Consolidated & Standalone Unaudited Financial Results of the Company for the quarter ended June 30, 2024.
b) declaration of Interim Dividend, if any, for financial year 2024-25."

IRB Infrastructure Developers Ltd Dividend History: IRB Infrastructure Developers announced 26 dividends since February 12, 2009. In last 1-year, IRB Infrastructure Developers announced an equity dividend amounting to Re 0.30 per share. At the current share price of Rs 60.68 per share, IRB Infrastructure Developers offers a dividend yield of 0.49%.

IRB Infrastructure Developers Share Performance: IRB Infrastructure Developers shares slipped over 10% in last 2-weeks, dived 13% in last 6-months, offered return of 45% year-to-date, zoomed 133% in last 1-year, gained 260% in last 2-years, and surged 597% in last 5-years. The 52-week high price of IRB Infrastructure Developers shares on BSE is Rs 78.05 per share 07/06/2024) and 52-week low price is Rs 24.97 per share (as on 02/08/2023), respectively.

Should You Buy IRB Infrastructure Developers Shares? Brokerage firm Prabhudas Lilladher has buy on IRB Infrastructure Developers shares with target price of Rs 84 per share and keep the stop loss at Rs 66. Meanwhile, Centrum Broking has suggested buy call to IRB shares with target price of Rs 85 for near term.

According to Prabhudas Lilladher, "the stock has overall witnessed a rising trend in the last one year and recently after a consolidation period near 65 zone has picked up well to move past the significant 50EMA level of 66.50 zone to improve the bias and anticipate for further rise in the coming days. With the RSI indicating strength, is on the rise and has potential to on with the positive move further ahead. With the chart looking attractive, we suggest to buy the stock for an upside target price of Rs 84 keeping the stop loss of 66."

About: IRB Infrastructure Developers Ltd (IRB) is India's first Integrated Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs.70,000 Crs. in 11 States across the parent company and two InvITs. The Company has strong track record of constructing, tolling, operating, and maintaining around 17,200 lane Kms pan India.

Disclaimer: The stock has been picked from the brokerage report of Prabhudas Lilladher and Centrum Broking. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.