Rs 33,600 crore order book: Multibagger stock under Rs 65 in focus as company report YoY rise of 19% in the toll collection of September 2024

The stock is up by 95 per cent from its 52-week low of Rs 31.05 per share and has given multibagger returns of over 800 per cent in 5 years.

On Thursday, shares of IRB INFRASTRUCTURE DEVELOPERS LTD (IRB) plunged 2.35 per cent to Rs 58.86 per share from its previous closing of Rs 60.07 with an intraday high of Rs 60.69 and an intraday low of Rs 59.29. The stock’s 52-week high is Rs 78.05 and its 52-week low is Rs 31.05.

IRB Infra and the IRB Infrastructure Trust reported a 19 per cent year-over-year increase in toll collection for September 2024. The toll revenue for September 2024 reached Rs. 502 crores, up from Rs. 421 crores in September 2023. This growth is attributed to increased traffic volume, despite facing heavy rains in certain regions. The company expressed optimism for continued growth during the upcoming festive season, driven by increased travel and economic activity.

IRB Infrastructure Developers Ltd (IRB) is India’s premier Integrated Multi-National Transport Infrastructure Developer specializing in Roads & Highways. With ISO Certifications in Quality, Environment Management, Occupational Health and Safety, and IT Security, IRB has established itself as a leader in the industry.

As the largest integrated private toll roads and highways infrastructure developer in India, IRB boasts an asset base of approximately Rs 80,000 crore across 12 States. With over 25 years of experience, the Company has successfully constructed, tolled, operated, and maintained around 18,500 lane kilometres of roads across India, of which 15,500 lane kilometres are currently operational. IRB commands a significant market share of around 38 per cent in the TOT space and contributes 12 per cent to India’s North-South highway connectivity. The Group's current project portfolio, including Private and Public InvITs, comprises 26 road projects, including 18 BOT, 4 TOT, and 4 HAM projects, showcasing its continued growth and commitment to infrastructure development.

The company has a market cap of over Rs 35,000 crore. As of June 2024, LIC owns a 3.33 per cent stake in the company and has an order book worth Rs 33,600 crore as of June 30, 2024. On May 30, 2024, the promoters of the company sold 24,00,00,000 shares or 3.97 per cent via the open market on BSE and NSE. The stock is up by 95 per cent from its 52-week low of Rs 31.05 per share and has given multibagger returns of over 800 per cent in 5 years. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.