CLSA: IRB Infra Shares Could Jump 71% on Re-rating Prospects

• CLSA projects IRB Infra shares could rise up to 71%, maintaining an "outperform" rating with a ₹72 price target.
• The brokerage cites improved toll growth, including a 10% year-to-date increase and 16% year-on-year in November.
• Toll growth on the Mumbai-Pune Expressway more than doubled this financial year, and InvIT assets increased by 11%.
• IRB Infra's InvIT has transformed into a high-yield annuity, doubling its enterprise value through new acquisitions.
• A strategic stake sale by Cintra-GIC is expected to support a re-rating of the stock.

Why It Matters: Investors could see 71% returns on IRB Infra shares.