IRB Infrastructure corrects as investors book profits

MoM Team / Mumbai, Feb 22, 03:28 PM

IRB Infrastructure Developers tumbled 10.84% at Rs 186.25 at 15:25 IST on BSE on profit booking after the stock jumped 23.57% in the preceding five sessions to Rs 208.90 on 21 February 2012 from a recent low of Rs 169.05 on 13 February 2012.

Meanwhile, the BSE Sensex was down 292.45 points, or 1.59%, to 18,136.16.



On BSE, 2.86 lakh shares were traded in the counter as against an average daily volume of 2.72 lakh shares in the past one quarter.



The stock hit a high of Rs 209.60 and a low of Rs 185.10 so far during the day. The stock had hit a 52-week low of Rs 121 on 3 January 2012. The stock had hit a 52-week high of Rs 229.95 on 8 April 2011.



The stock had outperformed the market over the past one month until 21 February 2012, gaining 29.03% compared with the Sensex's 10.09% rise. The scrip had also outperformed the market in past one quarter, spurting 51.38% as against 15.57% rise in the Sensex.



The mid-cap infrastructure company has an equity capital of Rs 332.36 crore. Face value per share is Rs 10.



IRB Infrastructure Developers' consolidated net profit fell 1.21% to Rs 131.39 crore on 14.51% increase in total income to Rs 779.23 crore in Q3 December 2011 over Q3 December 2010.



IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles. The company, along with its subsidiaries has constructed or, operated and maintained around 8,000 lane kilometres (kms) of road length so far.



 

Source: Capital Market