Buy IRB Infrastructure Developers, target price Rs 285: Axis Securities

Axis Securities has buy call on IRB Infrastructure Developers with a target price of Rs 285. The current market price of IRB Infrastructure Developers is Rs 242.2. Time period given by analyst is Intra Day when IRB Infrastructure Developers Ltd. price can reach defined target.

IRB Infrastructure Developers Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 14641.56 Crore) operating in Infrastructure sector.

IRB Infrastructure Developers Ltd. key Products/Revenue Segments include Contract Revenue and Income From Operations for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 1682.73 Crore, up 12.35 % from last quarter Total Income of Rs 1497.79 Crore and up 1.96 % from last year same quarter Total Income of Rs 1650.41 Crore. Company reported net profit after tax of Rs 234.93 Crore in latest quarter.

Investment Rationale
Down-Sloping Trend line breakout at 220 , recaptured and sustaining above 20,50, 100 and 200 Day SMAs.

Promoter/FII Holdings
Promoters held 34.2 per cent stake in the company as of 30-Jun-2022, while FIIs owned 48.65 per cent, DIIs 6.5 per cent.