IRB Infra's December toll collection up 32%

IRB Infrastructure Developers' overall toll collection in December zoomed a whopping 32 per cent, according to an exchange filing by the company. The company reported Rs 388 crores in December against Rs 294 crores in December 2021. 

On Month-on-Month basis, the toll collection has also gone up more than 6 per cent. The total toll collection in November 2022 stood at Rs 366 Crores. The company's SPV IRB MP Expressway Private Limited reported highest toll collection among others at Rs 1,320.89 crore in December, the company said. Virendra D Mhaiskar, chairman and MD, IRB Infra, said that the increase in the toll collection reflects that the economy is on growth trajectory. Besides, it also signifies that the corridors are playing vital role in the country's growth journey.

Meanwhile, the shares IRB Infra traded flat, quoting Rs 305 apiece on NSE. Ravi Singh, vice president and head of research at Share India, said that IRB Infra is currently witnessing selling pressure. The stock is showing support at lower levels on technical setup and the momentum indicators and oscillators are suggesting a good move ahead in upward direction.  The counter may touch the levels of 320 in near term, he said.

IRB Infra Stock Split

The company's board had last week approved stock split in the ratio of 10:1. It means that each share will split into 10 shares. The face value of each share and price will also be adjusted in the same ratio.
The company is yet to decide the record date for stock split.

IRB Infra is the country's largest integrated private toll roads and highways infrastructure developer. It has approximately 20 per cent share in the prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.

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