Kotak Institutional Equities retains 'buy' on IRB Infrastructure Developers, fair value Rs 154

Kotak Institutional Equities has retained buy rating on IRB Infrastructure Developers and revised fair value to Rs 154 from Rs 145. Toll collections for IRB are set to improve on the company bagging the tolling and maintenance of the Mumbai-Pune project for 10 years, said Kotak Institutional. With GIC payment also coming through, the brokerage expects IRB to benefit from the partnership in the current and upcoming projects. Shares of IRB Infrastructure ended down 10.55% at Rs 83.95 on Friday.