Shares of IRB Infrastructure Developers Ltd. gained on Wednesday after the announcement of April toll revenue.
The company's toll revenue rose 19% year-on-year to Rs 388 crore in April 2023, according to an exchange filing. The toll collection in FY23 was Rs 4,180 crore, compared to Rs 2,986 crore in FY22.
Shares of the company rose 2.72% to Rs 28.35 apiece as of 10.30 a.m., compared to a 0.08% decline in the benchmark NSE Nifty 50. However, the stock is down 2.18% year-to-date compared to a decline of 0.17% in the S&P BSE Sensex index.
The total traded volume so far in the day stood at 3.8 times its 30-day average.
Out of the nine analysts tracking the company, seven maintain a 'buy' rating and two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a downside of 3.9%.
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