Shares of IRB Infrastructure Developers rose after the company said its toll collection jumped 20% year-on-year in May.
The toll collection for May 2023 rose to Rs 411 crore from Rs 343 crore in May 2022, according to an exchange filing on Thursday.
Shares of the company rose 2.04% higher to Rs 28.55 apiece, compared to a 0.03% decline in the Nifty 50 as of 11:24 a.m. on Friday. The scrip gained as much as 4.11% intraday, the most since May 17, 2023.
Out of the nine analysts tracking the company, six maintain a 'buy' rating and three recommend a 'hold, according to Bloomberg data. The average 12-month consensus price target implies a downside of 0.2%.
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