IRB Infra can move to Rs 140-145, says SP Tulsian

IRB Infra can move to Rs 140-145 in next 15-20 days or so, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, “IRB Infra, I see two triggers, day before the Reserve Bank of India (RBI) has allowed the FII limit to get raised to about 49 percent in the company. I am not saying that entire limit will get exhausted because the promoter stake is close to about 60 percent, but there will be room for the foreign institutional investors (FIIs) to buy the stock in the company.”
He further added, “If I go by the results, the earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 408 crore is looking good because if I take a sequential there is an increase Rs 380 crore EBITDA in the Q2 and now they have Rs 408 crore EBITDA and earnings per share (EPS) of Rs 4.40 or closer to that will probably revive the interest and unless and until we again see any kind of negative news coming in which we have been seeing in the past, share can move to about Rs 140-145 in next 15-20 days or so.”