One of the hottest stocks this year has been IRFC. After a period of relative quiet following its listing, the IRFC share price has experienced a remarkable bull run in the stock market this year. Along with other railway-related stocks, IRFC has delivered substantial returns to investors. From ₹30-35 levels to the current levels of around ₹76, the stock has more than doubled in just two months.
The Investment: So, if you buy the stock today, you’d be able to purchase around 131 shares of the company. Now, if by some unfortunate turn, the IRFC share price slumps back to its 52-week low of ₹20.80, which it hit on Sept 26, 2022, the value of those 131 shares would crash to ₹2,620.
Background: The Indian Railway Finance Corporation serves as the dedicated market borrowing arm of the Indian Railways. Its primary function is to facilitate the financing of rolling stock assets and project assets for the Indian Railways while also providing loans to other entities under the Ministry of Railways, Government of India.
Last week, the company announced the appointment of its new auditors 0 P Totla & Co., Chartered Accountants. The PSU stock also went ex-dividend earlier this month. The government owns around 86% shares of the company.
Price Action: IRFC’s share price was down 0.33% to trade at ₹76.55 in the mid-market hours of trading on Tuesday.
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Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
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