Rs 33,700 crore order book: LIC-backed multibagger stock below Rs 50 hit fresh 52-week high on January 09; Toll collection increased 26 per cent YoY!

Rs 33,700 crore order book: LIC-backed multibagger stock below Rs 50 hit fresh 52-week high on January 09; Toll collection increased 26 per cent YoY!

Kiran Shroff
/ Categories: Trending, Multibaggers

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 22.56 per share and over 300 per cent in 3 years.

The Indian stock market enjoyed a positive opening today, with both the BSE Sensex and NSE Nifty-50 indices rising over 0.8%. Sectors like industrials, realty, and IT led the gains, painting the broader market green.

Along with the market in green, one multibagger stock backed by Life Insurance Corporation of India (LIC) gained 10.8 per cent and made a fresh 52-week high of Rs 46.70 per share from its previous closing of Rs 42.15. The shares of the company saw a spurt in volume by more than 4 times on BSE.

The champion stock name is IRB INFRASTRUCTURE DEVELOPERS LTD.

IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.   

IRB Infrastructure, India's first and largest private toll roads and highways developer, boasts a 25-year legacy of building, operating, and maintaining nearly 18,500 lane kilometres across 12 states. With an asset base exceeding Rs 77,000 crores, IRB holds a significant 20 per cent share in the Golden Quadrilateral project and dominates the TOT space with a market share of 38 per cent. Currently, the group's diverse portfolio, encompassing Private and Public InvITs, includes 26 projects - 18 BOT, 4 TOT, and 4 HAM, cementing its leading position in India's infrastructure landscape.

IRB Infra and its affiliate, IRB Infrastructure Trust, saw their combined toll collection surge 26 per cent in December 2023 compared to the same month in 2022, reaching Rs 488 crore, bolstered by the commencement of toll collection at the Samakhiyali Santalpur BOT project in Gujarat on December 28, 2023.

The company has a market cap of Rs 27,220 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.

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 22.56 per share and over 300 per cent in 3 years. Investors should keep an eye on this Mid-Cap stock.

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

DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched mid-cap stocks for smart investing. If this interests you, do download the service details here.

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