Momentumisers: Key factors behind IRB Infra’s surge

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IRB Infrastructure Developers was up 7 percent on Friday, 9 July. The stock hit a fresh 52-week high and has seen serious momentum. It is currently trading at around Rs 178.50 on the NSE.

IRB Infrastructure Developers was up 7 percent on Friday, 9 July. The stock hit a fresh 52-week high and has seen serious momentum. It is currently trading at around Rs 178.50 on the NSE.
In July, it is up almost 10 percent; 13 percent of which came in last week and in the last three months, IRB Infra was up 71 percent.
There could be a few triggers and first is, as things open up there would be more traffic on the roads and that would do well for their toll revenues and second, there are reports and news of the National Highways Authority of India (NHAI) increasing the pace of road sector awards. Therefore, it bodes well for IRB Infra.
Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.