Profit

IRB Infra gains, BofA-ML restarts coverage with 'buy'

 Share
EMAIL
PRINT
COMMENTS
New Delhi: 

IRB Infrastructure Developers Ltd gains as much as 15.4 percent to Rs 99.80 after Bank of America-Merrill Lynch restarts its coverage of the stock with a "Buy" rating and a price objective of Rs 102.

The investment bank notes IRB Infra "is well positioned to capture new order opportunities", and identified Rs 11200 crore that can be warded in the second half of fiscal 2014.

BofA-Merrill also notes valuations are attractive after the stock has underperformed the BSE Sensex by 42 percent in the last 12 months.

However, lower-than-expected traffic estimate for fiscal 2015 and continued slowdown in new project orders from the National Highways Authority of India are key risks, the bank says.

Copyright: Thomson Reuters 2013



Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top