IRB Infra hits 52-week high

IRB Infrastructure Developers rose 2.73% to Rs 219.95 at 14:51 IST on BSE after the company said its wholly owned subsidiary has executed concession agreement with National Highway Authority of India for a four-lane highway project.

The announcement was made on Saturday, 7 June 2014.

Meanwhile, the S&P BSE Sensex was up 212.41 points or 0.84% at 25,608.87.

On BSE, so far 6.02 lakh shares were traded in the counter as against average daily volume of 8.67 lakh shares in the past one quarter.

The stock hit a high of Rs 220.30 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 214.50 so far during the day. The stock hit a record low of Rs 51.90 on 2 August 2013.

The stock had outperformed the market over the past one month till 6 June 2014, surging 84.81% compared with the Sensex's 12.83% rise. The scrip had also outperformed the market in past one quarter, jumping 147.23% as against Sensex's 18.05% rise.

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

IRB Infrastructure Developers (IRB Infra) on Saturday, 7 June 2014 said that Yedeshi Aurangabad Tollway, wholly-owned Subsidiary of the company, has now executed Concession Agreement with NHAI for the project of four laning of Yedeshi - Aurangabad section of NH-211 in Maharashtra to be executed as BOT (Toll) on DBFOT Pattern under NHDP Phase - IV.

IRB Infra also said that IRB Ahmedabad Vadodara Super Express Tollway as well as IRB Tumkur Chitradurga Tollway, Wholly-owned subsidiaries of the company, have executed with NHAI Supplementary Agreement to Concession Agreement in respect of the scheme of deferment of premium approved by NHAI. The scheme will be applicable to both Projects from FY 2014-15 onwards, IRB Infra said.

IRB Infrastructure Developers' consolidated net profit fell 27.7% to Rs 109.23 crore on 6.9% decline net sales to Rs 882.87 crore in Q4 March 2014 over Q4 March 2013.

IRB is an integrated infrastructure development and construction company in India with significant experience in the toll roads and highways sector.

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