Tag: irb infra

The 65 percent decline in Maruti Suzuki Q2 profit could not drag the auto stock any further. Instead, the stock rose 0.40 percent, on a bad day for the market, to close at Rs 7,325.20 on the BSE. The company said adverse commodity prices and lower sales volume due to electronic component shortages impacted its performance in the September quarter. What might have lifted sentiment is the fact that the company had more than 2,00,000 pending customer orders at the end of the quarter. Analyst views are awaited though. Asian Paints climbed 4.43 percent to Rs 3,094.40 after a couple of brokerages said their interactions with dealers suggest the paintmaker plans to execute another 15-45 percent price increase, effective November 12. This is in addition to the recent 7.5 percent price increases, they said. Read more

Shares of IRB Infrastructure rallied 7 per cent and hit a 52-week high of Rs 139.40, ron the National Stock Exchange (NSE) in intra-day trade on Thursday, extending its upward movement after the HDFC Mutual Fund acquired more than 1 per cent stake in the company via open market. In the past eight trading days, the stock of the road & highways construction company has soared 31 per cent from the level of Rs 106.25, hit on May 28, 2021. On May 31, 2021, HDFC Mutual Fund bought 2.48 million shares, representing 0.71 per cent of the total equity of IRB Infra, at price of Rs 111 per cent via bulk deal on the NSE, the exchange data shows. The mutual funds, further on June 1, 2021, purchased additional 2.46 million shares, or 0.70 per cent stake in the company, at the price of Rs 111.34 per share, the bulk deal data shows. Read more