IRFC share price hits new all-time high; jumps over 40 per cent in 10 days: Buy, Sell or Hold?
IRFC Share Price Target: IRFC has outperformed the benchmark indices over the past one month, soaring more than 50 per cent. IRFC is one of the highest dividend paying stocks. IRFCs dividend yield is more than 4 per cent.
IRFC Share Price NSE, IRFC Share Price Target: Shares of Indian Railway Finance Corporation (IRFC) jumped more than 5 per cent in the early morning deals to hit a fresh all-time high of Rs 37.10. This is the eighth consecutive session when IRFC shares have extended gains.
IRFC shares are firing on all cylinders ever since it jumped the IPO issue price for the first time last week. The stock on November 16 closed at Rs 26.95 -- first closing above the IPO issue price of Rs 26 since listing in January 2021. The stock has since then gained more than 40 per cent.
The rally in IRFC share price has brought much-needed relief to its investors who were waiting for a trend reversal since listing.
IRFC Share Price Target
Zee Business panellist and market expert Ambareesh Baliga suggested viewers to book profit if the buying cost is below the IPO issue price.
Another panellist and market expert Avinash Gorakshakar said that IRFC share price target for long term investors would be Rs 40-45. He said that the strong momentum will continue in view of the upcoming Budget. Any announcement regarding tax concession and infrastructure investment in the Budget will add to the moment.
Last week, Zee Business panellist and TradeSwift director Sandeep Jain, had said that the view on IRFC stock is positive and set a price target of Rs 40.
IRFC Dividend Yield
IRFC is one of the highest dividend paying stocks. IRFC's dividend yield is more than 4 per cent.
IRFC has paid dividends on four occasions since its listing in January 2021.
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.
The stock hit a 52-week low of Rs 19.30 on June 20, 2022.
IRFC has outperformed the benchmark indices over the past one month, soaring more than 50 per cent compared to a nearly 4 per cent rise in Sensex and Nifty.
IRFC is a wholly owned subsidiary under the Ministry of Railways.
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