IRFC Share Price 13 January 2024: šš°
IRFC, short for Indian Railway Finance Corporation Limited, has witnessed an unprecedented surge in its share price. In Thursday’s trading session, IRFC shares were trading at ā¹109.30 with a sharp increase of 6.06%. By the end of the day, the share closed at ā¹106.87. The company’s shares have seen significant buying activity recently, providing investors with a remarkable return of 238% in the past year. Over the past two years, the share price has surged by 365%. Currently, IRFC has a market capitalization of ā¹1,39,663.12 crores.
On Friday, 12th January 2024, IRFC shares closed at ā¹113.55, marking a 6.27% increase. Market experts predict that the share price of IRFC can reach around ā¹126 in a short period. IDBI Capital Firm has set a target price of ā¹120-125 for IRFC shares, while Prabhudas Lilladhar Firm advises buying around ā¹104 with a stop loss at ā¹100. Tips 2 Trades Firm suggests that the share has become overbought and has shown a breakout at ā¹114 on the daily chart. Investors should consider booking profits at the current levels as the share price could potentially decline to ā¹80. DRS Finvest Firm’s experts believe that IRFC shares can touch ā¹120 in the next few days but advise setting a stop loss at ā¹103.
The Indian government has planned substantial investments in the railway sector during the financial year 2024-31. Such decisions are expected to bring significant investments to the railway companies, benefiting their shares. Additionally, improvements in services between Vande Bharat trains and railway coaches have led to a surge in IRFC’s share price.
As of September 2023 quarter, promoter entities held an 86.36% stake in IRFC, while public sector investors held 13.64%. In the same quarter, IRFC earned a net profit of ā¹1,549 crores, which is slightly lower than the ā¹1,714 crores earned during the same quarter of the previous financial year. During the quarter, the company raised ā¹6,766 crores through operations, compared to ā¹5,809 crores in the same quarter of the previous year.
With the growing investments in the railway sector and the company’s strong financial performance, IRFC’s share price continues to attract attention from investors.
[Sources: Moneycontrol, Economic Times, Business Standard]
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