India's IRB Infrastructure up after May toll collection rises

Ashoka Buildcon

07/06/2024 09:24

** Shares of IRB Infrastructure Developers Ltd  IRBI.NS 
rise as much as 6.6% to 74.85 rupees 
    ** Highway maker says, toll collection for co and associate
collectively rose over 30% to 5.35 bln rupees ($64.2 mln) in May
    ** Stock on track to rise for third straight day
    ** Stock trading above its 200-day simple moving avg since
August 2023
    ** Mean rating of 6 brokerages rating the stock is "buy";
their median PT is 71 rupees, which is lower than today's high -
LSEG data
    ** IRBI last up 6.8%, adding to YTD gains of ~80.9%, while
highway developer Ashoka Buildcon Ltd  ABDL.NS  rose ~49.6%


($1 = 83.3893 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))