10 For One Stock Split: Multibagger Mid Cap Infrastructure Stock To Ex-Split In 2-Days

Multibagger mid-cap stock operating in Infrastructure sector, IRB Infrastructure Developers Ltd is set to ex-split in 2-days. Earlier last month on January 4, 2023, it approved stock split. The board approved sub-division of shares in the ratio of 10:1. Current market price of the stock is Rs 290.00 apiece. HDFC Securities has assigned accumulate call with target price of Rs 306 apiece. Check details below:

1. IRB Infrastructure Developers To Ex-Split On Feb 22

The board of directors of the company stated in the BSE filing, "The Company has fixed Wednesday, February 22, 2023 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every 1 (one) equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 10 (ten) equity shares having face value of Re. 1 (Rupee One) each fully paid-up, as approved by the shareholders through Postal Ballot on February 06, 2023."

2. IRB Infrastructure Developers Stock Performance & Return

The current market price of the stock is Rs 290.00 apiece with intraday gain of 0.28%. The stock's 52-week high is Rs 329.30 apiece and 52-week low is Rs 179.05 apiece, respectively.

It has a market capitalisation of Rs 17,513.10 crore.

The stock gave 16% return in last 3-months, 16% again in last 6-months, 14% in last 1-year, and 194% in last 3-years.

3. Valuation

According to HDFC Securities, "We maintain ADD rating on the stock with an increased SOTP target price of INR 306/share as we roll forward to Dec-24 estimates. EPS change is reflective of a better margin on improved toll." EBITDA margin came in at 49.2%, beating our estimate of 45.7%.

4. IRB Infrastructure Developers About

IRB Infrastructure Developers Ltd. is India's leading integrated and first multi-national infrastructure developer in highways sector, with major presence in the Build-Operate-Transfer (BOT) space, carrying high pride to be part of India's transformation, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.