PL Recommends Buying Mid Cap Infra Stock, TP Rs 84; Shares Gain 181% In 1-Yr

IRB Infrastructure Developers Ltd shares gained over 4% in trade today and soared 181% in last 1-year. Current market price of IRB Infrastructure Developers share on BSE is Rs 71.08 per share. Brokerage firm Prabhudas Lilladher has recommended investors to buy IRB Infrastructure Developers shares with target price of Rs 84 per share and keep the stop loss at Rs 66. If you buy IRB Infrastructure Developers stock now at the current market price of Rs 71.08, you can fetch potential gain of 18.18%. The company has a market capitalisation of Rs 42,925.21 crore. More details below:

Prabhudas Lilladher Has Buy On IRB Infrastructure Developers Ltd Shares: According to the analyst's latest report, "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."

IRB Infrastructure Developers Declares Toll Revenue For June 2024: According to its media release issued as on July 10, 2024, "In continuance of the growth momentum seen in the first two months of Q1FY25, IRB Infrastructure Developers Limited and the IRB Infrastructure Trust have collectively reported Y-o-Y toll revenue growth of 35% for the month of June 2024." The toll collection of both the entities for June 2024 is Rs. 517 Crs against Rs. 383 Crs in June 2023. With this, the Q1FY25 toll collection is Rs. 1,556 Crs as against Rs.1,183 Crs in the corresponding quarter of FY24; thus, registering the Y-o-Y growth of 32%."

Commenting on this, Shri Amitabh Murarka, Dy. CEO, IRB Infrastructure Developers Limited said, "We have experienced a strong start to the new financial year FY25, marked by robust growth in Q1FY25. The recent implementation of the tariff revision will further improve the collection, and we anticipate this positive trend to continue in the forthcoming quarters of FY25."

IRB Infrastructure Developers Share Performance: 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. IRB Infrastructure Developers shares zoomed 54% in last 6-months, soared 70% year-to-date, and offered attractive return of 240% in last 2-years. In last 5-years, IRB Infrastructure Developers stock offered eye-popping returns of 719%.

IRB Infrastructure 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. 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.