IRB Infrastructure Developers shares fall; BNP downgrades

Written by Reuters | Updated: Aug 11 2014, 16:53pm hrs
Shares in IRB Infrastructure Developers Ltd fall 1.5 percent, heading for a fourth consecutive daily fall.

IRB Infrastructure shares had nearly tripled this year as of the close of trade on Aug. 5, tracking gains in the sector, which is expected to be a winner under the Modi government.

BNP Paribas downgraded the stock to "hold" from "buy", it said in a report on Friday. * "We are downgrading IRB to "hold", as we believe the share price fairly reflects its growth prospects," BNP said.