India's IRB Infrastructure Developers drops on Q2 rev fall, brokerages cut TP

IRB Infrastructure Developers

31/10/2024 08:04

** Shares of IRB Infrastructure Developers  IRBI.NS  down
4.3% to 51.7 rupees 
    ** Highways and bridges maker reported a 9% drop in Q2
consol rev
    ** At least 4 of 6 brokerages cut TP, lowering the median to
67 rupees - LSEG data
    ** HDFC Securities ("add") cuts by 4% on delay in project
execution
    ** Antique Stock Broking ("buy") cuts TP by 5% on declining
order book in road, construction segments
    ** Motilal Oswal ("neutral") cuts by TP by 1.6% due to lower
execution in construction business
    ** Analysts' avg rating on stock is "buy" -LSEG data
    ** Stock is up 1.7% so far this week, on track to snap five
straight weeks of losses

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))