Shares of IRB Infrastructure Developers Ltd fell today after Citigroup downgraded the stock to "sell" from "buy".
Citi cited "expensive valuation, moderate return ratios and high leverage" and said it prefered 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.
Copyright: Thomson Reuters 2014
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.