CLSA: IRB Infra Stock Poised for 71% Rally to ₹72

• CLSA maintains an "outperform" rating on IRB Infrastructure Ltd., projecting a 71% upside to a target price of ₹72.
• The brokerage highlights strong Q3 tolling trends, with 10% YTD growth and a 16% year-over-year increase in November.
• IRB's InvIT has shifted to a high-yield, growth annuity model following three new tollway acquisitions.
• A strategic stake sale by Cintra-GIC is expected to enhance growth and governance, potentially leading to a stock re-rating.
• Analyst consensus indicates a 34% potential upside from current levels, with 5 out of 7 analysts recommending "buy."

Why It Matters: This stock could jump 71%, offering a major investment opportunity.