IRFC share price zooms 7% to all-time high; what lies ahead? | IRFC Share Price Target 2022, 2023 NSE, BSE

IRFC Share Price NSE, IRFC Share Price Target 2022, 2023: Shares of Indian Railway Finance Corporation (IRFC) scaled to an all-time high on Thursday, November 24. The stock opened at Rs 29.50 apiece on NSE and rallied more than 7 per cent to hit a life high of Rs 31.45. The strong momentum in the counter in the past few days has brought much-needed relief to IRFC investors who were waiting for a trend reversal since its stock market debut in January 2021.

IRFC IPO Price Listing

IRFC is a wholly owned subsidiary under the Ministry of Railways. The government-owned company's stock is in news since last week after it surged over the IPO price of Rs 26. 

IRFC shares had made a muted stock market debut in January last year, listing at a discount of 4.23 per cent at Rs 24.90 apiece on NSE. The stock since then traded in a range and hardly moved in an upward trajectory. 

IRFC Share Price NSE Target 2022, 2023

According to Zee Business panellist and TradeSwift director Sandeep Jain, the view on IRFC stock is positive. He, however, suggested avoiding fresh entry, adding that one should wait for the level of Rs 27-28 for fresh buying.

For existing shareholders, he suggested holding the position.

IRFC share price target would be Rs 40, he said. The time duration for the target is 9 to 12 months.

Technical analyst Nilesh Jain too said that the technical view on IRFC is positive and that the stock could yield up to 10 to 15 per cent return from the current level. He, however, said that one should avoid fresh buying as the counter has rallied more than 40 per cent in the past 1 month.

Fresh buying in IRFC is suggested around Rs 28-29, he said, adding that the volume activity in the 4-5 sessions has reached a 6-month high.

IRFC Share Price Stop Loss

From a trading perspective, IRFC share price target, he said, would be Rs 34-35 and stop loss at Rs 29.50. 

For long term (6 to 8 months) investors, IRFC can yield a return of around 15 per cent from the current level and the stop loss should be at Rs 27.

IRFC Dividend Record Date 2022, Ex Date 

IRFC, the financing arm of Indian Railways, recently declared to pay 8 per cent interim dividend to its shareholders. This translates into Rs 0.80 dividend per share. The face value of each share of IRFC is Rs 10.

The stock traded ex-dividend date is on November 17. The record date was November 18.

IRFC Share Price NSE History

 
IRFC has delivered a stellar return of over more than 40 per cent in the past 1 month. YTD, the stock has gained more than 35 per cent.

Click Here For Latest Updates On Stock Market | Zee Business Live

HDFC Bank vs ICICI Bank vs Axis Bank vs Indusind Bank: Which stock offers more value for your buck?