Business Standard

IRB Infra plunges 13%, down 37% in 7 days

A combined 11.43 million shares have changed hands till noon deals

Read more on:    Hcc | Virendra Mhaiskar | Irb Infrastructure
Related News

has tanked 10% to Rs 106 in early noon deals on the Bombay Stock Exchange. The stock has declined 37% in past seven trading days following the alleged involvement of it chairman and managing director and three members in a murder.

Analyst at IFCI Financial Services downgraded the stock saying that the allegation will continue to weigh on the stock until definitive developments emerge on the issue.

Meanwhile, “IRB’s tolling revenue in Q4FY12 declined for the Surat-Dahisar expressway due to traffic being bypassed to the Thane-Bhiwandi Bypass. The bypass of traffic is due to construction of five flyovers of which three have been constructed and two would be completed in FY13. Further, the Nagar-Kramala-Tembhurni project recorded a 2.5% YoY decline in toll collection,” added report.

The counter have seen huge volumes, with a combined 11.43 million shares have already changed hands till noon deals, against an average sub 14 million shares that were traded daily in past two weeks on the NSE and BSE.

Read more on:   
|
|

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...

Quick Links

 

Market News

Sebi's draft Fatca norms: Greater scrutiny ahead for high-value US accounts

Financial institutions that don't comply with Fatca can be subject to withholding tax of 30% on payments from US sources

India produces 7.25 MT steel in March: WSA

The country, however, clocked a 3.9% growth rate in production, while world's average growth rate was at 2.7%

Chana up 0.8% on good demand

Commodity for delivery in May increased by 0.83%

Back on track: Railway stocks up on elections frenzy

The stocks have been up for the third day in a row

Sensex, Nifty retreat from record high levels

Sensex touched its all-time high of 22,875.17 and the broader Nifty kissed 6,861.60 figure for first time

Back to Top