India's IRB Infrastructure up as Feb toll collection rises

IRB Infrastructure Developers

07/03/2024 04:03

** Shares of IRB Infrastructure Developers  IRBI.NS  up 5%
at 63.8 rupees before trimming gains to last trade 2% higher   
    ** Stock gains after IRBI says Feb gross toll collection at
4.62 bln rupees ($55.84 mln), up 31.4% y/y 
    ** Co, which develops transport infrastructure for highways,
set to snap three straight sessions of losses if gains hold
    ** IRBI, however, on track for fourth straight weekly loss  
    ** Avg of 5 analysts rate stock 'buy', median price target
is 60 rupees - LSEG data  
    ** Stock up 49% YTD, after climbing last four years

($1 = 82.7325 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))