IRB Infra could one of the outperforming stocks in infra space: Gaurang Shah, Geojit BNP Paribas Financial Services

Gaurang Shah, Asst VP, Geojit BNP Paribas Financial Services, in a chat with ET Now talks about IRB Infra.

IRB Infra is managing to hold up almost 2% in trade but it has been maintaining a healthy stance. Do you think that this will continue?

I guess going forward definitely yes and I think the stock is consolidating roundabout 245-250 kind of levels. It did make a move towards that 300 mark about a month back and then cooled off a little bit. We feel that with the kind of order book that the company has got, the kind of experience and the past track record and the government thrust, I think IRB Infra could one of the outperforming stocks in the infrastructure space.

Recently we also heard that it is a preferred company for some of these infrastructure projects that might be coming up especially in the state of Maharashtra. So close to roundabout 260-250, I think it’s a very decent level to accumulate the stock with 8 months-1 year time horizon. You can easily get a price target of roundabout 330 to 340.