Trending Mid Cap stock: SREI Infra share price rises post IPO news confirmation
DSIJ Intelligence / 18 Jul 2017
SREI Infra has confirmed the fact that Bharat Road Networks is launching its IPO in the market.
SREI Infra has confirmed the fact that Bharat Road Networks is launching its IPO in the market.
SREI Infra has strategic investment in Bharat Road Networks. In FY17, it had invested Rs 341 crore for a stake of 30.43 percent in Bharat Road Networks.
Bharat Road Networks is planning to raise Rs 650 crore through the IPO. The IPO is expected to be in the market by next month.
SREI Infra has signed a MOU with a Russian State Development Institution to make developments in the fund management business of the company.
In FY17, the company has shown tremendous growth in revenues by 44.3 percent and the net profit has shown growth of whopping 235.6% YoY. The management expects the road sector projects, irrigation segment and railway sector to give boost to the infrastructure sector.
In past 52 weeks, the stock price of SREI Infra has gone up by 78.1 percent. On Monday’s trading session, the stock opened at Rs 116.25 and touched the level of Rs 129.4.
Today the stock opened at Rs 125.15 and went up to Rs 127.45 in the morning session.
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