With IRFC’s stock rising 295 percent over the last year, investors’ capital has nearly tripled. Over the last two years, it has produced an incredible 400% return.
On January 15, shares of Indian Railways Finance Corporation (IRFC) jumped 14% to a record high. Since the IPO, the stock has increased by around 400% from its Rs 26 price. Starting with the IPO price in 2021, the multibagger stock fluctuated between Rs 26 and Rs 30 until April 2023. But in the intervening year, the stock has more than tripled and is still reaching new highs.
The Indian Railways Finance Corporation (IRFC) stock continued its strong run of the previous several months, rising 14% in morning session to reach a record high of Rs 129.85 on January 15.
Analysts cited the government’s emphasis on the industry, new funding, and the company’s anticipated successful December quarter as some of the factors driving the IRFC stock up.
The stock, which went public in 2021, has gained around 400% since its issue price of Rs 26. The majority of the gains have occurred in the last year.
Up until April 2023, the stock fluctuated between Rs 26 and Rs 30; however, since then, it has more than tripled as it keeps reaching new highs.
PSUs like IRFC should profit from the government’s recently announced investment of almost Rs 7 lakh crore towards the construction of rail infrastructure.
On the National Stock Exchange (NSE), IRFC was trading 13% higher at Rs 128.65 at 10:10 a.m. This month, the stock has increased by 27% thus far.
The PSU stock has increased by 295 percent in the last half-year and by an astounding 400 percent in the past two years.
On the weekly chart, the IRFC broke above the Rounded Bottom pattern at Rs 92 in mid-December and consolidated for three weeks.
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