Hold IRB Infra With Stop Loss Of Rs 265
Technical analyst MB Singh is bullish on IRB Infrastructure Developers Ltd and maintained 'hold' rating on the stock to achieve a short term above Rs 310.
According to him, the interested investors can buy the stock with a stop loss of Rs 265.
Today, the shares of the company opened at Rs 285 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 297.10 and a low of Rs 97 on BSE.
IRB Infrastructure Developers Ltd has declared that a conference of the company's directors will take place on April 30, inter alia, to consider the Audited Results for the financial year completed on March 31, 2010.
The company's board will announce dividend, if any, for the fiscal ended March 2010.
IRB Infrastructure Developers Ltd., on April 08, said that it may enter into a partnership deal with foreign developers to assist the company become qualified to bid for superior highway projects.
Chairman Virendra Mhaiskar said that the company said that it can bid for projects of up to Rs 200 billion in auctions for the so-called mega-highway projects.
However, Mr. Virendra refused to name prospective partners or projects.