IRB Infra nudges higher after bulk deals

IRB Infrastructure Developers was up 1.08% to Rs 238.80 at 12:49 IST on BSE as the stock witnessed bulk deals on the NSE yesterday, 30 March 2017.

Meanwhile, the S&P BSE Sensex was down 60.84 points or 0.21% at 29,586.58. The S&P BSE Mid-Cap index was up 102.36 points or 0.73% at 14,087.88.

On the BSE, 1.86 lakh shares were traded on the counter so far as against the average daily volumes of 1.86 lakh shares in the past one quarter. The stock had hit a high of Rs 239.50 and a low of Rs 237 so far during the day. It had hit a 52-week high of Rs 266.25 on 23 September 2016 and a 52-week low of Rs 177.50 on 23 November 2016.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10.

Virendra D Mhaiskar sold 11.19 crore shares of IRB Infrastructure Developers (IRB Infra) at Rs 234 per share in a bulk deal on the NSE yesterday, 30 March 2017. Also, Virendra D Mhaiskar HUF offloaded 8.37 crore shares at Rs 234 a piece. Idea Soft Tech Park bought 19.57 crore shares at Rs 234 per share.

Promoter entities Virendra D Mhaiskar, Virendra D Mhaiskar HUF and Idea Soft Tech Park owned 31.86%, 23.83% and 1.06% stake respectively in IRB Infra end December 2016.

On consolidated basis, IRB Infra's net profit rose 9.7% to Rs 184.22 crore on 5.8% growth in net sales to Rs 1410.89 crore in Q3 December 2016 over Q3 December 2015.

IRB Infrastructure Developers (IRB) is one of the largest private roads and highways infrastructure developers in India.

Powered by Capital Market - Live News