Meanwhile, the BSE Sensex was up 517.35 points, or 3.35%, to 15923.29.

On BSE, 3.70 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 245.80 and a low of Rs 235.60 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 up 5.60% in three sessions from a recent low of Rs 231.05 on 29 October 2009.

The stock had outperformed the market over the past one month till 3 November 2009, rising 11.98% as compared to the Sensex 10.09% fall. It outperformed the market in past one quarter, gaining 27.27% as against 3.26% decline 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 244 discounts the company's Q2 September 2009 consolidated EPS of Rs 2.13, by a PE multiple of 114.55.

On a consolidated basis, the net profit soared 71.9% to Rs 70.82 crore on a 76.5% spurt in sales to Rs 355.90 crore in Q2 September 2009 over Q2 September 2008.

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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