IRB Infra Developers hits 52-week high; stock zooms 84% in one month

The company said it is well poised and geared up to win a large number of BOT projects in the upcoming bids, which will ensure a steady growth in execution as well as Toll revenues in the long term

Shares of IRB Infrastructure Developers gained 3 per cent and hit a 52-week high of Rs 121.50 on the BSE on Thursday on expectations that earnings may improve going forward as road traffic reaches over 80 per cent of pre-Covid level.

The stock of the company, which is the largest private roads and highways infrastructure developer in India, has surpassed its previous 52-week high of Rs 119.70 touched on January 21, 2020. In the past one month, it has zoomed 84 per cent as compared to 7.6 per cent rise in the S&P BSE Sensex.

According to the management, the company witnessed