IRB Infrastructure Developers Ltd: Buy
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IRB Infrastructure Developers Ltd is fast emerging as a prominent Toll operator in India. In Q2FY13, the company reported total income of Rs.505.84 Cr as against Rs.156.01 in the same period previous year. The net profit almost jumped 5 times in Q2FY13, to Rs.51.01 Cr as against Rs.10.65 Cr in the same period previous year.
Scrip came down sharply due to a false rumour which the company denied. It has again bounced, from the support levels and is now ready to move ahead, at top speed.
Chartically, speaking the Golden Cross-over has already taken place. Most of the other Chartical Parameters are in Buy mode.
The current market price of Rs.130-131, provides an excellent opportunity for investors to buy the scrip and hold. The short term targets for the scrip is Rs.140--145, while the medium term targets could be Rs.155-170. In the long term, the scrip could touch Rs.210-225. Therefore, a strong buying is recommended in the counter, especially in the view of RBI cutting Repo rates from January, 2013.
Chartically, speaking the Golden Cross-over has already taken place. Most of the other Chartical Parameters are in Buy mode.
The current market price of Rs.130-131, provides an excellent opportunity for investors to buy the scrip and hold. The short term targets for the scrip is Rs.140--145, while the medium term targets could be Rs.155-170. In the long term, the scrip could touch Rs.210-225. Therefore, a strong buying is recommended in the counter, especially in the view of RBI cutting Repo rates from January, 2013.
