Shares of IRB Infrastructure Developers soared 8 percent to hit a 52-week high of Rs 45.55 on January 9 after the company reported a strong growth in toll collections for December.
The company collected Rs 488 crore in toll in December, up 26 percent from Rs 388 crore in the same month of the previous fiscal.
At 9.42 am, IRB Infra was trading at Rs 45.20 on the National Stock Exchange, up 7.4 percent from the previous close.
“Pleased to see the continued growth momentum across all our highways assets. Since, the second half of the financial year is always better for toll collection perspective, we expect this growth to continue for the remaining quarter of FY24 too,” deputy CEO Amitabh Murarka said.
Follow our market blog to catch all the live action
A new project, the Samakhiyali Santalpur BOT project in Gujarat, started collecting toll on December 28 and would have a full quarter's worth of revenue to contribute in FY24.
Hyderabad Outer Ring Road, Ahmedabad Vadodara Expressway NE1 and Highway- NH48, and Mumbai Pune Expressway & Old Mumbai Pune Highway-NH4 were among the roads that contributed the most to December collections.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
