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IRB Infrastructure Falls After Citi Downgrade

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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



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