India's IRB Infrastructure up on higher May toll collection

IRB Infrastructure Developers

09/06/2023 05:03

** Shares of IRB Infrastructure Developers Ltd  IRBI.NS 
rise as much as 4.1% to 29.10 rupees, their biggest intraday pct
gain since May 17
    ** The road construction firm registers a toll collection
growth of ~20% Y/Y in May
    ** About 2.7 mln shares change hands by 9:27 a.m. IST, vs
30-day avg of 10.3 mln shares - Refinitiv Data
    ** Five of the eight analysts covering IRBI have a "buy" or
higher rating, while three have "hold"; median PT is 32 rupees
    ** Stock rose 4.4% in May; down ~4% YTD as of last close



($1 = 82.4550 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))