Small cap stock under ₹50: IRB Infrastructure Developers share hits life-time high. Gives 35% return in one month

livemint.com:

Small-cap stock under ₹50: IRB Infrastructure Developers shares have been in uptrend after ushering in financial year 2023-24. After bottoming out at around ₹22.50 apiece levels on NSE at the end of March 2023, this toll management company's stock has remained an ideal buy on dips stock for positional investors. In near six months, this small-cap stock below ₹50 has rise to the tune of 55 per cent whereas in last one month, it has risen around 35 per cent.

However, it seems that the stock still has some steam left. IRB Infrastructure Developers share price today opened upside and went on to hit intraday high of ₹35 per share levels within few minutes of stock market's opening bell today. This intraday high is a new record high of the stock.

IRB Infrastructure Developers Limited, India’s leading and the largest integrated multinational infrastructure player in highways sector and its private InvIT, IRB Infrastructure Trust, have collectively reported the toll revenue of ₹417 crore for the month of August 2023 as against ₹336 crore in August 2022; thus, Y-o-Y growth of 24 per cent. Company’s wholly owned subsidiaries, which manage Mumbai Pune project and Ahmedabad Vadodara project, reported aggregate toll revenue of ₹198 crore against ₹165 crore in August 2022; thus, growth of 20 per cent. Similarly, the joint ventures entities under IRB Infrastructure Trust, Private InvIT clocked toll revenue of ₹219 crore in August 2023, as against ₹171 crore in August 2022; thus, growth of 28 per cent.