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

IRB Infrastructure 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

Sensex down 200 points; Power stocks dim; RIL dips 2%

Market breadth is weak with 1,610 losers and 1,129 gainers on the BSE.

Steel Strips Wheels gains on highest ever sales in July

The company records highest ever sale of 11.03 lac wheel rims during July 2014

DLF Q1: A bag full of surprises

Though reported profits at nearly Rs 128 crore are 29% lower than last year, they are ahead of analyst expectation of Rs 102 crore

Nifty slips below 7,700; RIL, HDFC dip 1%

Markets continue to trade weak, amid weak global cues, with RIL, HDFC Group shares leading the decline

Upbeat auto market spurs demand for imported natural rubber

Imports cheaper than local rubber, but tyre makers reluctant to reduce prices

Back to Top