Indian Railway Finance Corporation (IRFC) share price closed at ₹166.20 on September 9th, 2024, down 2.18% from the previous day’s close. The stock opened at ₹168.40 and touched an intraday high of ₹168.40 and a low of ₹166.20.
Main Points
IRFC’s Recent Financial Performance
IRFC announced its Q4FY22 results in May 2024. In FY22, the company reported a Profit After Tax (PAT) of ₹6,090 crore, up from ₹4,416 crore in FY21. Revenue from operations grew by 28.71% to ₹20,298.27 crore in FY22.
The company’s net worth stood at ₹40,996.34 crore as of March 31, 2022, up 14.15% from the previous year. Assets Under Management (AUM) grew 15.32% to ₹4,15,237.68 crore.
IRFC’s Future Growth Prospects
The Indian government has encouraged private participation in rail projects and approved participative models for rail connectivity and capacity augmentation projects. IRFC is set to expand its wings and finance non-Railway projects that have a backward and/or forward linkage with the Indian Railways, which would include high-speed rails, dedicated freight corridors, station development, port development, and multi-modal logistic parks.
IRFC’s Chairman and Managing Director, Amitabh Banerjee, commented on the company’s future plans: “IRFC is committed to its contribution to India’s resolve in developing and expanding the Infrastructure Sector with a special impetus on Railway Sector. This is amply evident from the high quantum of borrowing mandate of ₹66,500 for FY 2022-23 received from MoR.
IRFC’s Stock Performance
IRFC’s share price has seen significant growth in recent years. The stock hit a 52-week high of ₹229.00 and a 52-week low of ₹65.75. Over the past year, the stock has delivered a return of 271.58%.
As of June 30, 2024, IRFC’s promoters held 86.36% of the company’s shares, while domestic institutional investors (DII) and foreign institutional investors (FII) held 1.07% and 1.11%, respectively.
Analysts’ Recommendations
Most analysts are bullish on IRFC’s long-term prospects. One user on Moneycontrol.com commented: “When it was running non-stop from ₹35 to ₹100 and from ₹100 to ₹190, everyone was like ‘wow, wow.’ Now when it’s consolidating, have patience. It’s a genuine stock whose growth depends on news and momentum along with quarterly results. It will definitely touch ₹250, but for that, it will cross ₹190 first, then ₹210, then ₹230, and finally ₹250. It won’t go from ₹180 to ₹250 directly in one go. So stop worrying and stay invested.”
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
