The Indian Railway Finance Corporation (IRFC) has been making headlines recently, especially with its stock performance. As of October 17, 2024, the share price of IRFC was recorded at ₹149.12, reflecting a decline of 1.09% from the previous trading day. This article will delve into the current updates regarding IRFC shares, expected price targets, important levels to watch, reasons for recent movements, and the latest news surrounding the stock.
Main Points
As of October 17, 2024, IRFC shares are priced at ₹149.12. The stock has seen a notable decline of approximately 10.79% over the past month and a significant drop of about 25.66% over the last three months. Despite this downturn, the stock has delivered an impressive annual return of around 100.17% and a staggering increase of 541.65% over the past three years.
Key Price Levels
- Current Price: ₹149.12
- Day’s Low: ₹148.51
- Day’s High: ₹154.50
- 52-Week High: ₹229.00 (recorded on July 15, 2024)
- 52-Week Low: ₹65.75 (recorded on October 26, 2023)
These figures indicate that while IRFC has experienced substantial growth over the years, it is currently facing challenges that have affected its recent performance.
Market analysts suggest that investors should keep an eye on key resistance and support levels for IRFC:
- Immediate Resistance: ₹155
- Immediate Support: ₹148
Should the stock break above ₹155, it may signal a potential recovery phase; conversely, falling below ₹148 could indicate further declines.
Effective Reasons Behind Recent Movements
Several factors contribute to IRFC’s current stock performance:
- Market Sentiment: The overall market sentiment towards finance and railway stocks has been bearish lately, affecting investor confidence.
- Technical Indicators: Recent technical signals indicate that IRFC is trading below its key moving averages, suggesting weak momentum.
- Profit Booking: Following significant gains in previous months, investors may be booking profits, leading to increased selling pressure.
- Sector Performance: The railway sector has faced headwinds due to broader economic conditions and policy changes affecting public sector undertakings.
Recent news surrounding IRFC includes:
- Dividend Declaration: On May 21, 2024, IRFC declared a final dividend of ₹0.70 per share, which translates to a yield of approximately 7% based on its face value.
- Earnings Report: For the quarter ending June 30, 2024, IRFC reported an income of ₹6,766 crore and a profit of ₹1,577 crore.
- Market Capitalization: As of now, IRFC’s market capitalization stands at approximately ₹1.98 lakh crore.
The company continues to play a crucial role in financing railway projects in India, which remains vital for infrastructure development.
Financial Performance Overview
| Metric | Value |
|---|---|
| Current Share Price | ₹149.12 |
| Previous Close | ₹151.35 |
| Market Capitalization | ₹1.98 lakh crore |
| Earnings Per Share (EPS) | ₹4.93 |
| Price-to-Earnings (P/E) Ratio | 30.25 |
| Dividend Yield | 1.00% |
Historical Performance
- 1 Month Change: -10.79%
- 3 Month Change: -25.66%
- 1 Year Change: +100.17%
- 3 Year Change: +541.65%
Important Dates
- 52 Week High Date: July 15, 2024
- 52 Week Low Date: October 26, 2023
- Dividend Declaration Date: May 21, 2024
- Ex-Dividend Date: August 22, 2024
Investors are advised to monitor these developments closely as they could significantly influence future trading decisions.
