Jul 09, 2013, 06.43 PM IST | Source: CNBC-TV18

Hold IRB Infrastructure, target of Rs 120: Rajesh Agarwal

Rajesh Agarwal, Head of Research of Eastern Financiers is of the view that one may hold IRB Infrastructure Developers with a price target of Rs 120 in the next three to six months.

Rajesh Agarwal, Head of Research of Eastern Financiers told CNBC-TV18, "I would recommend extending the time horizon in IRB Infrastructure Developers for at least 6-9 months and one will see a price target of Rs 120 in the stock. In fourth quarter, profit after tax (PAT) rose by around 26 percent."

"They have a strong balance sheet to grab opportunities for road sector. One can hold it with a price target of Rs 120 in the next three to six months," he added.

The share touched its 52-week high Rs 161.40 and 52-week low Rs 86.10 on 04 October, 2012 and 25 June, 2013, respectively. Currently, it is trading 39.87 percent below its 52-week high and 12.72 percent above its 52-week low. Market capitalisation stands at Rs 3,225.59 crore.

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