IRFC share price: Navratna PSU stock rallies for third straight session. Do you own?
- IRFC share price: IRFC share price surged by 9.2% after being awarded Navratna status. The firm reported revenues exceeding ₹26,600 crore and a market capitalisation of over ₹2,00,000 crore, solidifying its role in financing Indian Railways and contributing to national growth.
IRFC share price: Indian Railway Finance Corporation (IRFC) share price has surged by 9.2% over the past three sessions. The company has recently received the esteemed Navratna status from the Government of India. This accolade signifies a major achievement in IRFC's path as one of the Central Public Sector Enterprises (CPSE) that contributes to India’s railway infrastructure, as stated by the firm in their exchange filing.
In March 2018, it received Mini-Ratna Category-I status. The company was listed on the stock exchanges in January 2021 with an IPO price of ₹26, which has now increased to approximately ₹140, according to an exchange filing by the company.
"Receiving Navratna status is a reflection of IRFC’s financial strength and its commitment to supporting India’s railway infrastructure. This recognition further motivates us to expand our capabilities and contribute more meaningfully to the nation’s growth," said Manoj Kumar Dubey, CMD & CEO of IRFC.
Financials
As per the exchange filing, IRFC has achieved a revenue exceeding ₹26,600 crore and a profit after tax surpassing ₹6,400 crore as of March 31, 2024. This positions IRFC as the third-largest government non-banking financial company (NBFC) in India.
The firm has been instrumental in financing close to 80% of the rolling stock for Indian Railways and was the first Central Public Sector Enterprise (CPSE) to launch a 30-year tenor bond in international markets.
By December 31, 2024, IRFC’s market capitalisation stood at over ₹2,00,000 crore, with assets under management (AUM) totaling ₹4.61 lakh crore, a net worth of approximately ₹52,000 crore, and a total balance sheet exceeding ₹4.81 lakh crore.
Technical Views
IRFC share price today opened at 119.51 apiece on the NSE, the stock touched an intraday high of ₹121.38 apice, and an intraday low of ₹118.80 per share.
Anshul Jain, Head of Research at Lakshmishree Investment and Securities highlighted that the dead cat bounce likely before further weakness.
Further, Jain explained that after a buying climax at 226, IRFC has hit its initial downside target of 116 and is now deeply oversold. A short-term rebound toward the 50-day EMA at 131 is highly likely. However, the broader trend remains bearish, and any bounce is expected to be short-lived. The next wave of selling could drag the stock down to 90 and 65, making further downside a high-probability scenario. Caution is advised for traders.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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