Stock market analysts are of the view that investors can buy IRB Infrastructure Developers Ltd stock to achieve an intraday target between Rs 277-280.
According to them, investors can buy the stock above Rs 275 with a strict stop loss of Rs 272.
Shares of the company, on Tuesday (Nov 17), closed at Rs 271.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 273.75 and a low of Rs 65 on BSE.
The company has announced that its directors have decided to lift up capital by further issuance of securities in India as well as abroad via different instruments comprising equity shares/warrants with non-convertible debentures under QIP.
IRB Infra will organize EGM on November 25 in order to consider & to get the nod from shareowners for the aforementioned plans.
For the quarter ended September 30, 2009, the company has recorded an 80% surge in its PAT at Rs 74.31 crore.
The company has a PAT of Rs 41.21 crore in the corresponding period of the last year.
During the quarter, IRB Infra posted a total income of Rs 363.28 crore, which was up by 73.17%, as compared to Rs 209.78 crore recorded in the same period of the last year.