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.
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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.
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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.
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Price Action: IRFC’s share price was up 1.01% to trade at ₹50 in the mid-market hours of trading on Wednesday.
