Roads and Highways

The Beneficiaries

A 12month performance shows Hazoor, BRNL and IRB as the Top 3 in the Roads and Highways industry.

However, in 2024 the lead has been taken by BRNL followed by IRB and with 87% and 52% respectively in Jan’24 alone.

BRNL

Monthly chart

BRNL was in a downtrend since its IPO in 2017 and started basing from Apr’20. It made an attempt in Feb’22 but failed the breakout. Jan’24 has been good for BRNL as it moves straight to 52wk high with a return of 87% in Jan’24 alone.

Its tough to catch such moves and entry needs to be found in creative ways into such potential multi-baggers.

IRB

Monthly Chart

IRB came out of a multiyear consolidation “2010 to 2023” in Oct and since then has never looked back.

A pivot forming near 70 should be a good entry point to get into this outperformer.

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Covid in 2020 seems to have halted the fall into Roads and Highways sector and the turnaround seems to be happening in 2024 to newer heights and better highways.

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