Book profits in IRB Infra: Nooresh Merani

Nooresh Merani of AMSEC Research recommends booking profits in IRB Infrastructure Developers and feels that one may hold HCC and GVK Power.

Nooresh Merani of AMSEC Research told CNBC-TV18, "Tecnically if you look at IRB Infrastructure Developers  it has already moved up 35 percent in the last one week. So, at Rs 150 odd levels I would continue to book profits in it.  Hindustan Construction Company  (HCC) is a high risk bet at current levels. I would even like GVK Power , so HCC and GVK would be a hold but given IRB Infrastructure Developers' current move I would book profits."

At 14:09 hrs IRB Infrastructure Developers was quoting at Rs 150.50, up Rs 19.25, or 14.67 percent. It has touched a 52-week high of Rs 154.35.

The share touched its 52-week high Rs 136 and 52-week low Rs 51.90 on 20 May, 2013 and 02 August, 2013, respectively. Currently, it is trading 10.66 percent below its 52-week high and 189.98 percent above its 52-week low. Market capitalisation stands at Rs 5,002.08 crore.

Disclosure: Analyst has investment positions in the stocks.

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