IRFC More Valuable Than Bajaj Auto, Wipro As Railway Stock Continues Sizzling Bull Run

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 CompaniesMarket Cap (In ₹ lakh crore)
Bajaj Auto2.45
Nestle India2.37
JSW Steel2.21
Tata Steel2.15
SBI Life Insurance1.44
LTI Mindtree1.43
Eicher Motors1.30
Tech Mahindra1.30
HDFC Life1.21
IndusInd Bank1.10
Divis Labs1.08
Tata Consumer Products1.06
Hero Motocorp0.99
Dr Reddy's0.98
Shriram Finance0.88
Apollo Hospitals0.85
Market Capitalisation of Nifty 50 companies

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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Posted In: EquitiesNewsMarketsMoversIRFC