In its latest research report, Nirmal Bang, an equity research firm said that IRB can give good returns in the short term.
According to Nirmal Bang Research, the stock, which has been consolidating for some time in the region of 212-220, can be bought with a strict stop loss of Rs 195.
The report also stated that, if the stock maintains above 220 with an average volume of 15 lakh, then it will hit a target of Rs 255.
Today (Oct 06), the shares of the company opened at Rs 215.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 226.95 and a low of Rs 65 on BSE. Current EPS and P/E of the stock stood at 1.97 & 110.57 respectively.
IRB Infrastructure was incorporated to fund the capital needs of the IRB Group plans in the infrastructure segment. The company guarantees growth of a variety of infrastructure projects in the road segment via several Special Purpose Vehicles.
IRB Infra, together with its arms has built or, controlled and maintained approximately 1200 kms of road distance thus far and one of the major road maker in India.
The collective size of all their BOT projects (both accomplished and under implementation is about Rs 33,000.00 million.