Buy IRB Infrastructure Developers, with a target of Rs 270: Kotak Securities Limited

Buy IRB Infrastructure Developers Ltd. with a target of Rs 270. Success of InvIT, incremental BOT project wins, return of BOT as default mode of award by NHAI can act as triggers

By ETMarkets.com | Updated: Dec 29, 2016, 09.45 AM IST

Kotak Securities Limited has a buy call on IRB Infrastructure Developers Ltd. with a target price of Rs 270 . The current market price of IRB Infrastructure Developers Ltd. is Rs 193.8 . Time period given by analyst is year when IRB Infrastructure Developers Ltd. price can reach defined target.
Recent project wins fill up void created by project cancellations. 3 BOT projects from Kishangarh-Udaipur-Ahmedabad project would use FCF. Premium bid appears to be finely priced and it is a modest discount to current traffic levels. Kotal continues to like IRB as a value bet for now.

Triggers: success of InvIT, incremental BOT project wins, return of BOT as default mode of award by NHAI.

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