• Sat. Jun 22nd, 2024

IRFC Stock Skyrockets 18% In A Single Day! What’s Fueling This Epic Surge?”

ByNishat Manzar

Sep 4, 2023

The shares of Indian Railway Finance Corporation Ltd (IRFC) experienced a notable upswing, with a remarkable 18% surge in its stock value observed on September 4th. 

This surge was accompanied by a substantial spike in trading volumes, which rose by 11.11% compared to the previous day. As of 11:44 am, IRFC shares were trading at Rs 65.85, reflecting an impressive gain of 18.12%. Notably, a staggering 30 crore shares were traded on the stock exchanges by mid-day.

What’s even more noteworthy is that this surge isn’t an isolated event. Over the past two days, IRFC’s stock has soared by an impressive 31%. 

On August 31, the company experienced an 11.72% surge in its shares, with trading volumes reaching 27 crores. These volumes significantly surpassed both the weekly and monthly averages of 11 crores and 17 crores, respectively.

As a result of this surge in share price, IRFC’s market capitalization now stands at an impressive Rs 86,056 crore, signifying substantial investor confidence in the company’s performance.

IRFC is gearing up for its 36th Annual General Meeting scheduled for September 22. In August, reports surfaced indicating that the Indian government was planning to reduce its 86% stake in the PSU through an Offer-for-Sale (OFS) to comply with Sebi’s Minimum Public Shareholding norm.

In its June Standalone quarterly results, IRFC reported a robust 18% year-on-year increase in revenue, reaching Rs 6,679.17 crore. However, profits witnessed a slight dip, declining by 6.34% to Rs 1,556.57 crore. Nevertheless, the company’s EBITDA (earnings before interest, tax, depreciation, and amortization) demonstrated impressive growth, rising by over 18% to reach Rs 6,651.77 crore.

Investors in IRFC have seen substantial returns, with the stock delivering an impressive 134% gain in the last six months.

It’s essential to note that while these developments are encouraging, it’s always advisable for investors to consult certified experts and conduct thorough research before making any investment decisions. The stock market can be unpredictable, and informed decisions are key to navigating its fluctuations successfully. As IRFC continues to make waves in the market, all eyes are on its upcoming Annual General Meeting and the government’s divestment plans, which could further impact its stock performance.

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