{"id":115638,"date":"2023-12-15T13:00:17","date_gmt":"2023-12-15T07:30:17","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=115638"},"modified":"2023-12-15T14:18:33","modified_gmt":"2023-12-15T08:48:33","slug":"midcap-stock-hits-52-week-high-after-company-receives-a-highway-project-in-rajasthan-and-mp","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/midcap-stock-hits-52-week-high-after-company-receives-a-highway-project-in-rajasthan-and-mp\/","title":{"rendered":"Midcap stock hits 52-week high after company receives a highway project in Rajasthan and MP"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2595889428\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>On Friday the midcap stock rose 3.3 percent and hit its 52-week high of Rs 42.43 from its previous close of Rs 41.05 after the company got a 110-kilometer highway project.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3486354277\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to the filing of IRB Infrastructure Developers Ltd, the company has been selected as the preferred bidder for a 110-kilometer highway project in Rajasthan and Madhya Pradesh. The project involves operating and maintaining two highways for 20 years.&nbsp;<\/p><p>IRB will pay an upfront fee of Rs. 1,683 crore to NHAI. This project will increase IRB&#8217;s North-South Highway corridor market share to 12% and add Rs. 1,800 crore to its order book. The project is expected to generate positive cash flow in its first year of operation.&nbsp;<\/p><p>Looking at the Irb Infrastructure Developers Ltd financials, the net revenue increased by 30 percent year over year, from Rs 1,342.95 crore in Q2FY23 to Rs 1,745 crore in Q2FY24. Their revenue rose by 6.7 percent sequentially from Rs 1,634 crore in Q1FY24 to the current levels.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3936569664\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In addition, the company&#8217;s net profit rose by 56 percent year over year, from Rs 109.67 crores in Q2FY23 to Rs 171 crores in Q2FY24. Their profit climbed from Rs 187 crore in Q1FY24 to the current levels on a sequential basis, an 8 percent decrease.&nbsp;<\/p><p>A net profit margin of 11 is higher than the last three years NPM, also it has a good current ratio of 1.5.&nbsp;<\/p><p>IRB Infrastructure Developers Ltd is a mid-cap company with a market capitalization of 25,240. The share price of the company rose by 52 percent in the last six months and 33 percent in the year to date.&nbsp;<\/p><p>The company&#8217;s promoter owns 34.5 percent of the company, while the general public owns 11 percent, Foreign institutional investors own 5.5 percent of the company, while domestic institutional investors own 49 percent.&nbsp;<\/p><p>IRB Infrastructure Developers Ltd is a road and highway infrastructure development and construction company in India. It also operates in other infrastructure-related business segments such as road maintenance, construction, airport development, and real estate.&nbsp;<\/p><p><strong>Written by Sriram KV<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-2282675177\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3231849946\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>On Friday the midcap stock rose 3.3 percent and hit its 52-week high of Rs 42.43 from its previous close of Rs 41.05 after the company got a 110-kilometer highway project.&nbsp; According to the filing of IRB Infrastructure Developers Ltd, the company has been selected as the preferred bidder for a 110-kilometer highway project in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-115638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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