Indian Railway Finance Corporation shares have been on tremendous rally. Just this month, the stock has surged over 30% hitting a new 52-week high of ₹52.70 on August 16. So, if you had invested ₹10,000 in this railway stock earlier this year, here’s what would have happened.
The Investment: On February 28, 2023, IRFC was priced at ₹26.95. With an investment of ₹10,000, you would have secured approximately 371 shares. Fast forward to today, with the stock price at ₹50, those shares would now be valued at approximately ₹18,570.
Background: The Indian Railway Finance Corporation, a dedicated market borrowing arm of the Indian Railways, plays a pivotal role in financing the acquisition of rolling stock assets and project assets of the Indian Railways and lending to other entities under the Ministry of Railways, Government of India.
The stock along with other railways-related stock such as RVNL, Titagarh Wagons, and IRCTC has seen a great run at the bourses.
Earlier this month, the company also reported its earnings for the quarter ended June. The company’s revenue from operations for the period stood at ₹6,679.2 crore, up 18% from the ₹5,627.5 crore revenue it booked in the same period last year. The company’s profits for the quarter stood at ₹1,556.6 crore, down around 6% from the year-ago period.
Price Action: IRFC’s share price was up 1.01% to trade at ₹50 in the mid-market hours of trading on Wednesday.
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