IRB News Breakout Of The Month By Market Magnify
Incorporated way back in year 1998, IRB Infrastructure Developers Ltd. has today become India’s leading and one of the largest Infrastructure Developing Company in BOT Space, committed to the Roads & Highway sector. Ever since the first ever project completed by the Company, our actions have been guided by the sole objective of delivering value.
Over the years, we have reinforced our commitment by delivering large, technically complex projects across India, on difficult terrains and in a tough industry environment. Building seamless connections and facilitating Socio-Economic-Cultural developments, we are proud to be part of India’s transformation.
!!!!!!!!!!!!!!! FUNDAMENTAL VIEW !!!!!!!!!!!!!!!!
On 22nd March 2018 IRB bags order worth RS. 3400 CR Hapur Bypass BOT projects in UP
On 14th March, 2018: IRB Infra bags two Hybrid Annuity projects in Tamil Nadu
On 19th March, 2018; IRB Infra bags another Hybrid Annuity project in Gujarat
If we compare some of the ratio with Peers Company then we will find that:
- Return on equity of the company is 13.57% whereas Peer average stand at -10.36%
- Gross Profit margin is at 37.52% where as peer average stand at 41.73%
- Net Profit of the company is at 12.23% where as peer average stand at -30.16%
As we can see in chart below stock is trading in a range for almost 4 years from 275 to 194 but on 11th April IRB has break out its channel resistance with very high volume since mid of Dec 2017. After breakout stock has been testing its support level which was at 250 levels and after testing its support level again bullish movement has been witness on the last day of the month with stock closes above its crucial level of 275 with highest volume in April month since July 2014.
MACD and RSI have been signaling strong buying momentum is near to come.
stock is forming double bottom price pattern but there has been no prior rally before formation of pattern and if pattern breaks out then we can see strong rally is IRB.
Technically the stock may continue to move higher from the levels above 285 and it can test the levels of 312-355. Technical stop loss should be below 245 levels.
Supports and Resistance (Monthly)
Resistance 1- 315 Support 1-250
Resistance 2- 360 Support 2-215
Resistance 3- 425 Support 3-190
WEEKLY CHART OF IRB INFRA