IRFC back in action: Share price gains 4%; analysts upbeat - check target

IRFC Share Price NSE: Shares of Indian Railway Finance Corporation (IRFC) surged on Wednesday amid a volatile session in the markets. The Indian Railways stock opened in green at Rs 32.15 apiece on NSE and zoomed around 4 per cent to hit day's high of Rs 33.20. Market expert Ambareesh Baliga said the counter could show Rs 35-36 levels over the next few days. The Railway sector has outperformed in 2022 and that IRFC has been in momentum.

Ravi Singh, Vice President and Head of Research at Share India said that IRFC is showing volume thrust and strong momentum on the daily and weekly chart in anticipation of some announcement from the government in the upcoming budget.

"The oscillators and momentum indicators suggest another leg of up-move in the coming days. The counter may touch the levels of 35-37 in coming trading sessions," he added.

IRFC Dividend History 2022, Dividend Yield, News

IRFC dividend yield is more than 4 per cent. It has paid dividends on four occasions since its listing, amounting Rs 3.25 per share.

IRFC Share Price NSE History

IRFC shares have delivered multi-bagger returns to its investors. In the past 6 months, IRFC shares have yielded a whopping 69 per cent return. YTD, the counter has zoomed more than 40 per cent.

IRFC made its stock market debut in January 2021 below the IPO issue price of Rs 26. The one-sided rally in IRFC share price last month brought much-needed relief to its investors who were waiting for a trend reversal since its stock market debut.

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

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