IRB Infrastructure falls after Citi downgrade

Reuters Market Eye - Shares of IRB Infrastructure Developers Ltd fall after Citigroup downgraded the stock to "sell" from "buy".

Citi cites "expensive valuation, moderate return ratios and high leverage" and says prefers Adani Port and Special Economic Zone Ltd and Gujarat Pipavav Port Ltd .

IRB Infrastructure Developers shares were down nearly 2.1 percent as of 10:20 a.m.

(Reporting by Abhishek Vishnoi)