India's IRB Infrastructure rises on $257 mln order from NHAI

IRB Infrastructure Developers

27/02/2023 04:46

** Shares of IRB Infrastructure Developers Ltd  IRBI.NS 
rise as much as 4.82% to 29.35 rupees
    ** Stock of the infrastructure developer hits highest level
since Feb 24, set to rise after two consecutive days of losses
    ** Co on Friday received a letter of award worth 21.32 bln
rupees ($257.12 mln) from National Highways Authority of India
(NHAI)  urn:newsml:reuters.com:*:nFWN35435S
    ** More than 7.8 mln shares change hands, 0.3x the 30-day
avg
    ** Five of eight analysts covering the stock have a "buy" or
"strong buy" rating, three have "hold"; median PT is 31.55
rupees - Refinitiv data
    ** Stock up 27.90% in 2022

    ($1 = 82.9180 Indian rupees)

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))