Rs 33,700 crore order book & DIIs increase stake: LIC-backed multibagger stock at Rs 71 in green as toll collection increases 30 per on YoY basis; details inside!

The stock gave multibagger returns of 188 per cent from its 52-week low of Rs 24.97 per share and a whopping 565 per cent in 3 years.

The Indian stock market ended the trading session in red, with the BSE Sensex Index down 0.08 per cent and the NSE Nifty-50 Index down 0.10 per cent.

Though the market was in red, one multibagger stock backed by Life Insurance Corporation of India (LIC) gained 0.49 per cent to Rs 70.33 per share from its previous closing of Rs 69.99 with an intraday high of Rs 72.06 and an intraday low of Rs 69.12. The stock’s 52-week high is Rs 73 and its 52-week low is Rs 24.97.

The champion stock name is IRB INFRASTRUCTURE DEVELOPERS LTD.  

IRB Infrastructure Developers Ltd (IRB), a leading Indian infrastructure development and construction company with 25 years of experience, focuses on roads and highways but also handles road maintenance, construction, airport development, and real estate. As India's largest integrated private toll roads and highways developer, IRB boasts an asset base of around Rs.80,000 crores across 12 states, managing a network of nearly 18,500 lane kilometres through its projects and two Infrastructure Investment Trusts (InvITs). The company holds a significant market share of 38% in the Toll Operate Transfer (TOT) space and contributes 12% to the North-South highway connectivity in India. IRB's portfolio currently includes 26 road projects - 18 Build-Operate-Transfer (BOT), 4 TOT, and 4 Hybrid Annuity Model (HAM) - having completed and handed over 13 concessions to government agencies.

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The toll collection details Project and SPV wise are as follows:

Commenting on this, Shri Amitabh Murarka, Dy CEO, IRB Infrastructure Developers Limited said, “We are ending Financial Year 2024 with a sharp Y-o-Y growth of 30% in toll collection during March 24.” He further said, “With the addition of two new revenue-generating TOT assets in the portfolio, we foresee robust FY25.”

The company has a market cap of over Rs 42,000 crore and reported positive numbers in its Quarterly Results and annual results.  As of September 2023, LIC owns a 3.33 per cent stake in the company and has an order book worth Rs 33,700 crore. As of December 2023, DIIs have increased their stake to 7.85 per cent compared to 7.38 per cent in September 2023. The stock gave multibagger returns of 188 per cent from its 52-week low of Rs 24.97 per share and a whopping 565 per cent in 3 years. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.