IRB Infrastructure Developers’ shares have been moving higher for the last three sessions on the back of multiple news flows. In various exchange filings, the company has informed the bourses about the record date for stock split, toll-collection update, credit rating and board meeting for the quarterly results.
IRB Infra, on Wednesday, said that its toll collection improved 36 per cent year-on-year (YoY) to Rs 374.81 crore in the month of January 2023, which was Rs 276.45 crore in the same month last year. However, toll collection slipped over 3 per cent on a month-on-month (MoM) basis from Rs 388 crore.
This performance includes the wholly owned subsidiaries of IRB Infrastructure Developers and joint venture entities under its Private InvIT Arm, IRB Infrastructure Trust, collectively across all projects managed by them.
Also, the company said that Fitch Ratings has affirmed the International Long-Term Issuer Default Rating on IRB Infrastructure Developers Limited at ‘BB+’ with a ‘stable’ outlook, the company said in a separate filing.
Shares of IRB Infrastructure jumped more than 3 per cent to Rs 291.5 on Thursday. The stock has gained 10 per cent in the last three sessions. The counter settled at Rs 281.95 on Thursday. However, on a monthly basis, the stock is down 4 per cent.
Earlier this week, the company said that its board is scheduled to meet on February 13, Monday, to consider and approve the results for the quarter and nine months that ended on December 31, 2022.
IRB Infra also announced February 22, 2023 as the record date for the sub-division of its equity shares in 1:10 ratio. Accordingly, the stock will trade ex-split on Tuesday, February 21, 2023. The company had announced the stock split in January 2023.
IRB Infra has approximately 20 per cent share in the Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. It has an asset base of about Rs 60,000 crore across 10 States across the parent company and two InvITs.
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