IRB Infra zooms 16%, stock up 39% in 3 days on plans to raise funds

Shares of IRB Infrastructure Developers (IRB Infra) surged 16 per cent to scale a fresh 3-year high in intra-day trade on Friday. The stock has zoomed as much as 39 per cent in the last three days on the back of company’s fund raising plans. The stock of roads & highways construction company was trading at its highest level since May 2018.

At 09:52 AM, IRB Infra was trading 12 per cent higher at Rs 273.15 on the BSE, as compared to 0.58 per cent rise in the S&P BSE Sensex. The trading volume at the counter jumped nearly 1.5 times with a combined 15.8 million shares changing hands on the NSE and BSE.