BUY IRFC Share - Stock zooms 7%; Check price target for long term | IRFC Share Price NSE, IRFC Share Price Target 2023, Dividend Yield

IRFC Share Price NSE, IRF Share Price Target 2023, IRFC Share News: Shares of Indian Railway Finance Corporation (IRFC) on Tuesday, November 29, chugged fast to hit a fresh lifetime high. The stock zoomed more than 7 per cent in early deals to hit an all-time high of Rs 36.30 apiece on NSE and Rs 36.40 on BSE.

According to Zee Business panellist and market expert Avinash Gorakshakar, the share prices are on the uptrend expecting some announcement from the government in the upcoming Budget.

He said that IRFC investors should hold the stock as the counter is ready for the upside journey. Any announcement regarding tax concession and infrastructure investment in the Budget will add to the moment.

He suggested buying IRFC shares for a price target of Rs 40/45 with a long-term view (12 months). One should accumulate the stock on dips and Hold it in the portfolio for a big target.

He also said that IRFC distributed good dividends which makes it favourite among investors.

IRFC Bulk Deal

A bulk deal of nearly 14.3 lakh shares was reported in IRFC in the pre-opening session today.

IRFC Dividend Yield 

IRFC is known for distributing good dividends to its shareholders. The company has paid dividends on four occasions since its listing in January 2021. IRFC dividend yield is 4.16 per cent.

IRFC paid an interim dividend of Rs 1.05 per share in February 2021. The company again paid an interim dividend of Rs 0.77 per share in November same year.

In 2022, the company first paid a dividend of Rs 0.63 per share in September and Rs 0.80 in November.

IRFC Share News

IRFC is in the news for the past two weeks as the stock traded above the IPO issue price of Rs 26 for the first time since listing in January 2021. The stock is currently trading 40 per cent higher above the IPO issue price.

IRFC Share Price NSE

The strong momentum in IRFC shares in the past one month has brought much-needed relief to its investors who were waiting for a trend reversal since listing. IRFC has delivered a stellar return of more than 50 per cent in the past one month and 65 per cent in 6 months. The stock's 52-week range is Rs 36.30 - Rs 19.30.

 IRFC is a wholly owned subsidiary under the Ministry of Railways. 

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