IRFC share price may fall by Rs 120 by the end of September 2024, keep an eye on the level of Rs 157.
Indian Railway Finance Corporation (IRFC) share price closed at ₹165.88, reflecting a decline of 2.28% from the previous day’s closing price of ₹168.33. This downward trend has raised concerns among investors, particularly given the stock’s performance over recent weeks. The IRFC has experienced a notable decrease of 5.76% over the past week and 7.74% over the last month. Despite these fluctuations, the stock has shown remarkable growth over the past year, with an impressive increase of 95.73% compared to the same period last year.
Main Points
IRFC shares have been trading in a volatile range, with today’s low recorded at ₹163.52 and a high of ₹168.55. This volatility is indicative of broader market trends and investor sentiment towards public sector undertakings (PSUs) in the financial sector. The stock’s market capitalization stands at approximately ₹218,270.19 crore, positioning it as a significant player in the Indian financial landscape.
IRFC’s share price has seen significant highs and lows in the past year. The stock reached a 52-week high of ₹229.00 on July 15, 2024, and a low of ₹65.75 on October 26, 2023. This dramatic fluctuation underscores the stock’s potential for both growth and risk, making it a focal point for investors looking for opportunities in the PSU sector.
In May 2024, IRFC declared a final dividend of ₹0.70 per share, translating to a 7% return on the face value of ₹10 per share. This announcement has been well-received by shareholders, contributing to positive sentiment around the stock. The ex-dividend date was set for August 22, 2024, and the dividend is expected to be paid within 30 days of the annual general meeting (AGM). Such dividends are critical for attracting and retaining investors, particularly in a market that is increasingly competitive.
The financial performance of IRFC has been stable, with the company reporting revenues of ₹6,765 crore for the June quarter, a slight increase from ₹6,673 crore in the previous year. The net profit for the same period was ₹1,576 crore, reflecting a marginal year-over-year increase. This stability in earnings, coupled with a consistent dividend policy, positions IRFC as a reliable investment option for those seeking exposure to the railway finance sector.
Given the current trends and market conditions, predictions for IRFC’s share price tomorrow suggest a cautious outlook. Analysts expect the stock to face resistance around the ₹168 mark, with support levels near ₹163. If the stock can maintain above this support level, it may have the potential to recover some of its recent losses. However, external market factors, including economic indicators and investor sentiment toward PSUs, will significantly influence its performance.
Investors should closely monitor the upcoming corporate actions and market news surrounding IRFC. The company’s ability to navigate the current economic landscape, alongside its commitment to shareholder returns through dividends, will be pivotal in determining its stock performance in the near term.
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.
