IRB Infrastructure Developers gained 4.70% to Rs 108.10 after Life Insurance Corporation of India (LIC) purchased 71.29 lakh equity shares or 2.03% stake of the construction company between 16 September 2020 to 5 May 2021. Post transaction, LIC has increased its shareholding in IRB Infra to 7.06% stake from 5.03% held earlier. The deal was executed as a market purchase. IRB Infrastructure's consolidated net profit fell 56.5% to Rs 69.48 crore on 11.2% decline in net sales to Rs 1,547.16 crore in Q3 December 2020 over Q3 December 2019. IRB Infra is India's largest private toll roads and highways infrastructure developer. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)