IRB Infra declines on profit booking

IRB Infrastructure Developers lost 5.7% to Rs 80.25 at 15:18 IST on BSE on profit booking after advancing 13.85% in the prior four trading sessions to Rs 85.10 on 20 September 2013, from a recent low of Rs 74.75 on 16 September 2013.

Meanwhile, the BSE Sensex was down 356.74 points, or 1.76%, to 19,906.97.

On BSE, 3.72 lakh shares were traded in the counter compared with average volume of 6.89 lakh shares in the past one quarter.

The stock hit a high of Rs 84.75 and a low of Rs 80.20 so far during the day. The stock hit a record low of Rs 51.90 on 2 August 2013. The stock hit a 52-week high of Rs 161.40 on 4 October 2012.

The stock had outperformed the market over the past one month till 20 September 2013, surging 25.52% compared with the Sensex's 11.06% jump. The scrip, however, underperformed the market in the past one quarter, sliding 23.13% as against Sensex's 8.25% rise.

The small-cap company has an equity capital of Rs 332.36 crore. Face value per share is Rs 10.

IRB Infrastructure Developers' consolidated net profit fell 5.1% to Rs 134.56 crore on 5.4% growth in net sales to Rs 1032.66 crore in Q1 June 2013 over Q1 June 2012.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

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