Business · India Bureau
IRB Infra shares surge on strong toll collections, Q2 earnings beat
Shares of IRB Infrastructure Development Limited climbed 7% following robust toll collection performance in the second quarter. Motilal Oswal Financial Services has maintained its buy recommendation on the stock with a target price of ₹22.
LSN India ·
IRB Infra's stock gained ground in Tuesday's trading as improved toll revenues bolstered second-quarter financial results. The infrastructure company, which operates and maintains national highways, benefited from increased vehicular traffic across its toll plazas during the quarter.
Motilal Oswal Financial Services (MOFSL), a leading brokerage firm, retained its 'Buy' rating on the company following the earnings announcement. The research house kept its earnings estimates unchanged, citing confidence in the company's operational performance and revenue trajectory.
The brokerage firm set a target price of ₹22 per share for IRB Infra, signalling potential upside from current trading levels. The positive assessment reflects analyst expectations of sustained toll collections and steady cash flows from the company's highway concession portfolio.
IRB Infra operates several highway projects across India under Build-Operate-Transfer (BOT) and engineering, procurement and construction (EPC) models. The company has been focusing on expansion of its operational asset base to drive long-term growth.