IRFC shares down 30% from 52-week high, should you buy?

IRFC Share Price, IRFC Share Price Target 2023: Shares of Indian Railway Finance Corporation (IRFC) have corrected nearly 31 per cent from their 52-week high of Rs 37.10 which it had touched on November 30 last year. The stock gained on Friday and was trading at Rs 28 on the NSE at 12:40 pm, up nearly 1 per cent on the intraday basis. A total of 7,73,950 shares with a value of Rs 4,684.87 lakh have changed hands for the day so far around 1:28 PM, according to NSE.  

Market expert Ambareesh Baliga recommended a 'buy' on the counter for a target price of Rs 32. He has a view of 4-8 weeks on this stock.

Stock of IRFC, which is a financing arm of Indian Railways opened at Rs 28.05 apiece and hit the day's high of Rs 28.25 at 10:20 am.

IRFC Dividend Yield

IRFC's dividend yield is more than 4 per cent according to the information available on NSE website. It has paid dividends on four occasions since its listing, amounting Rs 3.25 per share.

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IRFC Share Price NSE History

IRFC shares have yielded a positive 33 per cent return over a 6-month period. On the Year-to-Date (YTD) basis, the counter has given negative returns of more than 15 per cent.

IRFC made its stock market debut in January 2021 below the IPO issue price of Rs 26. At current market price, the company has a market cap of Rs 36.66 thousand crore.

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

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