Multibagger Alert: This construction company emerges as a preferred bidder for Rs 2,132 crore project!

The stock gave multibagger returns of 177 per cent over 2 years and also close to its 52-week high.

Today, IRB Infrastructure Developers Ltd shares surged 5.15 per cent to Rs 297.85 crore, with an intraday high of Rs 300.95 and a low of Rs 281.35. The stock gave multibagger returns of 177 per cent over 2 years.   

IRB Infrastructure Developers Ltd in the latest press release announced that the company has emerged as a Preferred Bidder for Rs 2,132 crore BOT Project in the State of Gujarat. The project, with a concession period of 20 years from the appointed date, is 6 laning of the 90.90 km stretch between Samakhiyali to Santalpur in Gujarat. On awarding with the above project, the company’s order book will stand revised to Rs 20,892 crore.   

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.  

Talking about finance, IRB Infrastructure Developers has a market cap of Rs 17,988 crore with 3 years CAGR of 44 per cent. The company reported excellent numbers in its Quarterly Results and annual results. In Q3FY23, net sales rose by 18.38 per cent and net profit rose by 93.15 per cent compared to Q3FY22.  

The stock has a 52-week high of Rs 329.30 and a 52-week low of Rs 179.05. Investors should keep an eye on this Mid-Cap construction company for the upcoming trading session.