IRFC Share Price Target 2023: Stock zooms 9% to hit fresh lifetime high; up 30% from IPO price | IRFC Share Price NSE

IRFC Share Price Target 2023, IRFC Share Price NSE, IRFC Share News: Shares of Indian Railway Finance Corporation (IRFC) continued the winning streak on Dalal Street on Monday, November 28. The price of the shares of the railway financing arm jumped more than 9 per cent to hit fresh life high and also a 52-week high.

IRFC stock opened at Rs 32 apiece on NSE and jumped more than 9 per cent to hit a fresh high of Rs 34.80 at 10:10 AM. At 3 PM, the stock quoted Rs 33.80 apiece.

IRFC is in the news for the past two weeks as the stock is trading above the IPO issue price of Rs 26 for the first time since listing in January 2021. The strong momentum in IRFC has brought much-needed relief to its investors who were waiting for a trend reversal since its stock market debut.

IRFC Share Price Target 2023

Anand James, Chief Market Strategist at Geojit Financial Services, said that record volumes in the last two weeks have not only broken the stock’s multi-month consolidation pattern but also catapulted the stock to a new peak. This, he said, encourages us to look forward to a medium term view of Rs 37. 

Last week, Zee Business panellist and TradeSwift director Sandeep Jain said that the view on IRFC stock is positive. Jain said that IRFC could deliver around 30 per cent return. He had set IRFC share price target at Rs 40. The time duration given by Jain for IRFC share price target is 9 to 12 months.

IRFC Dividend 

 
IRFC recently traded ex-dividend. The company has announced 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 50 per cent in the past 1 month. In the past 6 months, IRFC has yielded a whopping 60 per cent returns, thus resulting in the wealth creation of investors.

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

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