IRFC Share Price may remain bullish till Rs 167.30 for next 5 days, understand technical and fundamental analysis
The Indian Railway Finance Corporation (IRFC) has been making headlines recently due to its fluctuating stock performance and market dynamics. As of October 11, 2024, the IRFC share price stood at ₹152.40, reflecting a slight increase of 0.63% from the previous day’s close of ₹153.48. This movement in share price is part of a broader trend that investors are closely monitoring.
Main Points
- Latest Share Price: ₹152.40 (as of October 11, 2024)
- Previous Close: ₹153.48
- Market Capitalization: Approximately ₹198,641 Crores
- 52-Week High: ₹229.00 (recorded on July 15, 2024)
- 52-Week Low: ₹65.75 (recorded on October 26, 2023)
Over the past month, IRFC shares have experienced a decline of about 10.79%, while over the last three months, the drop has been more significant at 25.66%. However, looking back over the past year, the stock has appreciated by 100.17%, indicating a strong long-term performance despite recent volatility.
Key Financial Ratios
- P/E Ratio: 29.96
- P/B Ratio: 3.80
- EPS (Earnings Per Share): ₹4.93
- Dividend Yield: Approximately 1.04%
The company declared a final dividend of ₹0.70 per share in May 2024, which was well received by investors.
Recent technical indicators suggest a mixed outlook:
- The stock has shown bullish signals across various moving averages.
- However, there are concerns as the stock has seen a decline of around 2.73% following recent moving average crossovers.
Important Levels to Watch
Investors should keep an eye on these critical levels:
- Support Level: ₹141.51 (recent low)
- Resistance Level: ₹159.00 (recent high)
The market sentiment around IRFC remains cautious but optimistic in the long run due to its robust financial fundamentals and growth potential within the railway sector. The company’s performance is closely tied to government initiatives in infrastructure development and railway modernization.
Ownership Structure
As of June 30, 2024:
- Promoter Holding: 86.36%
- Domestic Institutional Investors (DII): Increased from 0.88% to 1.07%
- Foreign Institutional Investors (FII): Increased from 1.08% to 1.11%
This stability in promoter holding suggests confidence in the company’s future prospects.
Analysts have set various targets based on current trends:
- Short-term target: ₹160
- Medium-term target: ₹180
- Long-term target: ₹200
These targets are contingent upon broader market conditions and company performance metrics.
