IRB Infra hits over 7-year high; stock surges 10%

The stock rallied 10% to Rs 281, its highest level since August 24, 2010, on the BSE on back of heavy volumes

IRB Infrastructure Developers hit an over seven-year high of Rs 281, up 10% on the BSE, recorded its sharpest single day gain since September 28, 2017, on back of heavy volumes.

The stock of roads & highways company is trading at its highest level since August 24, 2010, when it touched a record high of Rs 313 during intra-day trade.

The trading volumes on the counter jumped more than 10-fold with a combined 12.7 million shares representing 3.6% of total equity of IRB Infra changed hands on the BSE and NSE till 02:41 pm.

In past three