IRB Infrastructure Developers soared 12.83% to Rs 134.10 after the company on Tuesday (18 August) said it received unanimous arbitral award of Rs 73.86 crore for one of its earlier projects in Punjab.
On the technical front, the stock's RSI (relative strength index) stood at 72.294. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 106.83 and its 200-day moving average (DMA) placed at 84.19.
IRB's consolidated net profit dropped 25.8% to Rs 154.32 crore on 18.7% fall in net sales to Rs 1,584.45 crore in Q4 March 2020 over Q4 March 2019.
IRB is a private roads and highways infrastructure developer in India.
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