Jagannadham Thununguntla, Strategist & Head of Research of SMC Global Securities told CNBC-TV18, "IRB Infra doesn't make sense even in short-term, medium-term or even in the long-term. For long-term there are much better things to do. I think one should use the tactical maybe small bounce that is expected to happen towards Rs 105 just as a matter of exit."
IRB Infrastructure Developers was quoting at Rs 97.45, up Rs 3.90, or 4.17 percent. It has touched an intraday high of Rs 99.60 and an intraday low of Rs 93.55 at the close of day.
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