Indian Railway Finance Corporation's (IRFC) market capitalisation has raced ahead of several major Nifty 50 companies as the stock continued its bull run.
What Happened: The stock has soared 8% on Thursday's trading session to intraday high of ₹191.65 and 20% in the last five sessions. The stock had shot up 4% after it declared a strong results for the March quarter. The company’s bottom line increased 33.6% year on year to ₹1,717 crore while its revenue rose 1.73% to ₹6,473 crore. The railway major also announced plans to raise ₹50,000 crore for FY25.
With the surge in stock price, IRFC’s market capitalisation reached around ₹2.48 lakh crore surpassing major companies like Bajaj Auto, Wipro, Nestle India and 20 other companies in the Nifty 50.
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| Nifty 50 Companies | Market Cap (In ₹ lakh crore) |
|---|---|
| Bajaj Auto | 2.45 |
| Wipro | 2.44 |
| Nestle India | 2.37 |
| JSW Steel | 2.21 |
| Tata Steel | 2.15 |
| Grasim | 1.59 |
| Hindalco | 1.50 |
| SBI Life Insurance | 1.44 |
| LTI Mindtree | 1.43 |
| BPCL | 1.39 |
| Eicher Motors | 1.30 |
| Tech Mahindra | 1.30 |
| Britannia | 1.26 |
| HDFC Life | 1.21 |
| Cipla | 1.20 |
| IndusInd Bank | 1.10 |
| Divis Labs | 1.08 |
| Tata Consumer Products | 1.06 |
| Hero Motocorp | 0.99 |
| Dr Reddy's | 0.98 |
| Shriram Finance | 0.88 |
| Apollo Hospitals | 0.85 |
IRFC’s shares have been on a bull run over the past year, racing more than 465% in one year, making IRFC the 36th most valuable company among National Stock Exchange-listed companies.
Price Action: IRFC shares were trading at ₹188.35, up over 7% in the bourses on Thursday.
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