Buy IRB Infrastructure Developers: KRChoksey

Buy IRB Infrastructure Developers: KRChokseyKRChoksey has suggested buy call for IRB Infrastructure with a target price of Rs 188. In a research report released on 10 May, 2012, KRChoksey has suggested lower price target of Rs 188 compared to earlier target of Rs 221.

IRB Infrastructure Developers stock is currently trading at Rs 112. The stock recovered from today's low of Rs 104 to end the day at Rs 112. IRB Infrastructure Developers has touched a 52-week low of Rs 100. With a market capital of Rs 3735 crore and P/E ratio of 22.5, the stock is little expensive compared to peers in infrastructure sector.

The company has recently indicated that there isn't any pressure on its margins. The company announced results in line with street expectations.

As the company Chairman Virendra Dattatray Mhaiskar was under investigation in a murder probe, Goldman Sachs downgraded the stock from Buy to Neutral in its report on 7, May, 2012. The stock price took a hit after the news broke.

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