A dedicated market borrowing arm of the Indian Railways, the Indian Railway Finance Corporation helps to finance the purchase of rolling stock assets and project assets for the Indian Railways.
Indian Railway Finance Corporation (IRFC) is a government-owned company in India that raises funds for operating and expansion through capital markets and other borrowings. While the Ministry of Railways has administrative authority over the corporation, the Government of India owns the majority of the shares. On January 18, 2021, the firm announced its first public offering. On January 29, 2021, it was listed on the Bombay Stock Exchange(BSE) and the National Stock Exchange of India(NSE)
The shares of Indian Railway Finance Corporation(IRFC) have surged significantly. On August 16th the stock increased by nearly 30% this month, reaching a new 52-week high of 52.70.
Let’s check out what would have occurred if you had invested 10,000 in this railroad stock earlier this year.
Well, IRFC was priced at ₹26.95 on the 28th of February. Therefore, with an investment of $10,000, you might have acquired about 371 shares. This stock has experienced a strong run at the share market, along with other railway-related stocks like RVNL, Titagarh Wagons, and IRCTC. If we fast-forward to today, the stock price would be 50, making those shares worth around 18,57.
The company’s revenue in the first quarter stood at ₹6,679.2 crore. The company’s profits for the quarter stood at ₹1,556.6 crore, down around 6% from the previous year.