The acquisition of these three road assets increases the average life span of IRB InvITs asset portfolio from 14 years to 17 years
With IRB Infrastructure Developers shares currently trading at Rs 45.47, the stock's notable surge and high trading volumes suggest increased investor activity, warranting close monitoring of its performance relative to key indices and financial metrics.
IRB Infra and IRB Infrastructure Trust together reported strong YoY growth of 23 percent in toll collection for November 2024.
As of the September quarter, IRB Infra's order book reached Rs 3.26 lakh crore, with the Engineering, Procurement, and Construction (EPC) segment contributing 12.3 percent and Operations and Maintenance (O&M) contributing 87.7 percent.
IRB Infrastructure Trust is a privately placed InvIT( infrastructure trust) which listed on the NSE in April 2023 and is sponsored by IRB Infrastructure Developers.
The stake sale is also likely to trigger a lock-in period of 150 days before Cintra could execute any further block deals to offload more stake in IRB Infra.
Indian equity indices ended lower in the volatile session on June 10. At close, the Sensex was down 203.28 points or 0.27 percent at 76,490.08, and the Nifty was down 31 points or 0.13 percent at 23,259.20. Here are some stocks that moved the most in trade today.
Recently, brokerage firm CLSA also named IRB Infra as one of the key beneficiaries of the return of the Modi government to power and its expected push on infra capex.
CLSA sees a return of Modi for a third tenure, with the backing of coalition allies. The brokerage also anticipates focus to remain on infrastructure and defence sectors, benefiting companies like Larsen & Toubro and IRB Infra.
Cintra InvIT Investments BV (Cintra SPV 1) and Cintra IM Investments BV (Cintra SPV 2) collectively belong to the Netherlands-based Ferrovial group.
IRB Infrastructure Developers stock has been on a remarkable run, rocketing a massive 75 percent since the start of the year.
All sectors ended in the green, with BSE power gaining 3 percent. BSE midcap and smallcap indices rose over 2 percent
The Samakhiyali Santalpur BOT project in Gujarat started collecting toll from December 28 and will have a full quarter's worth of revenue to contribute in the remaining months of FY24
Among the company's various projects and special purpose vehicles (SPVs), the Mumbai Pune Expressway & Old Mumbai Pune Highway (NH4), Hyderabad Outer Roing Road, and Ahmedabad Vadodara Expressway contributed the highest toll collections.