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IRB Infrastructure stock up by 9 percent

By SiliconIndia   |   Monday, November 29, 2010
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Bangalore: IRB Infrastructure Developers Limited stock was among top gainers after price went up by nearly 9 percent. After opening the day at Rs.217.00, the stock touched its 52 week high of Rs.312.80, before closing the trade at Rs.213.50, with gain of 8.78 percent.Through the day,452135 shares of IRB Infrastructure Developers Limited were traded in the market. IRB Infrastructure Developers Limited (IRB) is a holding company. IRB is an infrastructure development and construction company in India. The Company is in the business of construction, as well as construction and operation of major road projects. The Company has two segments: Road Infrastructure Projects and Real Estate Development. The Company undertakes development of various infrastructure projects in the road sector through special purpose vehicles. IRB's road infrastructure business is conducted in two verticals: engineering, procurement and construction (EPC), and toll collection and maintenance. RB Infrastructure Developers stock spurted 4.89 percent to Rs 213.50 on bargain hunting after the stock corrected 17.49 percent in the preceding three sessions to Rs 203.55 on Thursday, 25 November 2010, from a recent high of Rs 246.70 on 22 November 2010. The stock topped the gainers in the BSE's 'A' group.
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