IRFC Share Price NSE: Shares of Indian Railway Finance Corporation (IRFC) declined on Wednesday, December 14 in an otherwise market. The Indian Railways stock opened in green at Rs 34.00 apiece on NSE and later surrendered the gains to trade in red. At 2:30 PM, the counter quoted Rs 33 apiece after slumping around 2 per cent.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Technical analyst Nilesh Jain said that the latest correction in IRFC share price is healthy, adding that this could be a good opportunity to invest in the company.
He said that the stock has potential to yield 10 to 15 per cent return from the current level. "The upside is open for Rs 35- 38. Any decline below 32 could be a good entry point. He advised keeping a stop loss of Rs 28/29," he said.

"The stock has so far shown a good trend," he said. "There are expectations from the Budget that the government could announce some big infrastructure investment."

IRFC Share Price History

IRFC has delivered a stellar return of around 60 per cent in the last 6 months, resulting in wealth gain for investors. YTD, IRFC has yielded a positive return of 44 per cent. Putting into perspective, IRFC stock which was available for Rs 23.05 apiece on January 3, is now available at around Rs 43.82. At current levels, the stock has a market cap of Rs 43.39 thousand crore.

IRFC made its stock market debut in January 2021 at an IPO issue price of Rs 26. IRFC is a wholly owned subsidiary under the Ministry of Railways.

IRFC Q2 Performance

IRFC reported a 14 per cent year-on-year growth in its net profit at Rs 1,714 crore in the July-September quarter of the financial year 2022-23 (Q2FY23) as compared to Rs 1,501 crore in the same quarter of the previous fiscal.

The company’s revenue from operations grew around 24 per cent to Rs 5,810 crore in Q2FY23 as against Rs 4,690 crore in the same period a year ago. While its net worth stood at Rs 43,549 crore and Assets Under Management (AUM) at Rs 4,39,070 crore in Q2, IRFC said in its results filing.

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

Also, read- Stocks in News Today, December 14: Tata Motors, Paytm, Axis Bank, Vedanta and others in focus