IRB Infrastructure sails against the tide on blockbuster results

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 03/11/2009 | 12:00 AM IST

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Capital Market

Tuesday, November 03, 2009 (New Delhi)

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The result was announced after market hours on Friday, 30 October 2009.

Meanwhile, the BSE Sensex was down 178.14 points, or 1.12%, to 15718.14.

On BSE, 5.39 lakh shares were traded in the counter as against an average daily volume of 7.41 lakh shares in the past one quarter.

The stock hit a high of Rs 245.45 and a low of Rs 228 so far during the day. The stock had hit a 52-week high of Rs 264 on 21 October 2009 and a 52-week low of Rs 65 on 2 December 2008.

The stock had outperformed the market over the past one month till 30 October 2009, rising 9.85% as compared to the Sensex 7.18% fall. It outperformed the market in past one quarter, soaring 27.74% as against 3.30% rise in the Sensex.

The mid-cap infrastructure developer has an equity capital of Rs 332.36 crore. Face value per share is Rs 10.

The current price of Rs 239.70 discounts the company's Q2 September 2009 consolidated EPS of Rs 2.13, by a PE multiple of 112.53.

On a standalone basis, the company reported a net loss of Rs 0.48 crore in Q2 September 2009 compared with a net profit of Rs 4.08 crore in Q2 September 2008. Total income fell 17.9% to Rs 5.23 crore in Q2 September 2009 over Q2 September 2008.

The company has fixed an extraordinary general meeting on 25 November 2009 to seek shareholders approval to raise funds in the domestic or international markets.

IRB Infrastructure Developers is an infrastructure development and construction company in India with significant experience in the roads and highways sector. The company is also involved in the real estate development sector.

Promoters have pledged 1.05 crore shares representing 73.77% of the equity capital of the company. Total promoters shareholding in the company is 3.17% (as on September 2009).

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