India's IRB Infrastructure gains on Kotak upgrade

IRB Infrastructure Developers

21/03/2024 08:41

** IRB Infrastructure Developers'  IRBI.NS  shares up 7% at
57.70 rupees
    ** Kotak Institutional Equities upgrades company's shares to
"add" from "sell", raises PT to 65 rupees from 60 rupees
    ** New concession model by India's highways authority will
benefit companies such as IRBI - brokerage
    ** Brokerage expects medium-term pipeline for
built-operate-transfer projects at around 2 trillion rupees over
next two years
    ** Companies such as IRB with strong balance sheet could be
key beneficiary and could garner healthy market share -
brokerage
    ** IRBI shares up ~39% YTD, after gaining 43% last year

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))