Stock market analysts are of the view that investors can sell IRB Infrastructure Developers stock with a target price between Rs 225-223.
According to them, investors can sell the stock below Rs 227.50 with a strict stop loss of Rs 231.
If the stock fell below Rs 221, it may see more weakness.
Shares of the company, on Tuesday (Nov 03), closed at Rs 233.60 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 183 and 132.79 respectively. The share price has seen a 52-week high of Rs 264 and a low of Rs 65 on BSE.
After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.
IRB Infrastructure Developers swung to loss for the three month period ended Sept 2009, 2009.
During the period, the company posted loss of Rs 4.78 million as against a profit of Rs 40.84 million during the corresponding quarter previous year.
IRB Infrastructure announced loss of Rs 0.01 per share during the period under review as compared with earnings of Rs 0.12 per share in previous year period.
IRB Infrastructure Developers, on Oct 30, declared that the company’s board has the fund raising plan by further issue of securities in domestic as well as global markets through a variety of instruments comprising equity shares/warrants with non-convertible debentures under QIP.