IRB Infra shares fall; BNP downgrades

Reuters Market Eye - Shares in IRB Infrastructure Developers Ltd fall 1.5 percent, heading for a fourth consecutive daily fall.

IRB Infrastructure shares had nearly tripled this year as of the close of trade on Aug. 5, tracking gains in the sector, which is expected to be a winner under the Modi government.

BNP Paribas downgraded the stock to "hold" from "buy", it said in a report on Friday.

"We are downgrading IRB to "hold", as we believe the share price fairly reflects its growth prospects," BNP said.

(Reporting by Indulal PM)