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This is an archive article published on January 10, 2012
IRB Infra stock upgraded to ‘buy’
At 11:24 am,shares of IRB Infra were up 3.95% at 132.75 rupees.
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CLSA has upgraded Virendra D. Mhaiskar-led IRB Infrastructure Developers stock to ‘buy’ from ‘outperform’ on attractive valuations but has reduced its target price to 155 rupees from 190 rupees to reflect in lower operational profits from their engineering-procurement and construction or EPC business.
Elevated inflation and new projects will drive a 23 per cent BOT (built-operate-transfer) revenue (compounded annual growth rate) CAGR over FY11-14,said CLSA in a note.
On its website IRB says it possesses one of the India’s prime BOT projects in its portfolio viz.,the Operation and Maintenance of Mumbai – Pune Expressway,and the four laning of NH-4 from Shil Phata to Dehu Road; two major roads connecting India’s commercial capital to the rest of Maharashtra.
At 11:24 am,shares of IRB Infra were up 3.95 per cent at 132.75 rupees.
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