IRFC (Indian Railway Finance Corporation) share price has been making waves in the market, with investors eagerly anticipating the company’s upcoming quarterly results. As of September 19, 2024, IRFC’s share price stands at ₹158, with a market capitalization of ₹207,214.2 crore.
Main Points
IRFC’s Recent Performance and Dividend Announcements
IRFC has been consistently delivering strong financial results, with a 15% rise in net profit for the third quarter ending December 31, 2023. The company also recorded a 15.65% increase in net profit for the nine months ending December 31, 2023.
In terms of dividends, IRFC has been rewarding its shareholders with regular payouts. The company recently declared a final dividend of ₹0.70 per share (7%) for the financial year 2023-24, with an ex-dividend date of August 22, 2024.
Analysts’ Outlook on IRFC’s Future
Despite the recent dip in IRFC’s share price, analysts remain bullish on the company’s long-term prospects. The stock exhibited a bullish trend in the offing, with a 5-day moving crossover appearing on September 20, 2024, indicating an average price gain of 3.93% within the next 7 days.
Sudeep Shah of SBI Securities, in a recent interview, highlighted the sector rotation that supports Nifty at higher levels. He specifically mentioned that railways and defense stocks are expected to be in focus, signaling a positive outlook for IRFC.
IRFC’s Role in India’s Railway Infrastructure Development
IRFC plays a crucial role in financing the expansion and operation of Indian Railways. The company borrows money from the market and loans it to Indian Railways based on a government guarantee. As the country continues to invest heavily in railway infrastructure, IRFC’s importance as a financier is expected to grow.
IRFC’s Upcoming Quarterly Results and Investor Expectations
IRFC is scheduled to announce its quarterly results on August 12, 2024. Investors are eagerly awaiting these results, as they will provide insights into the company’s financial performance and future growth prospects.
Analysts are closely watching IRFC’s ability to maintain its profitability and dividend payouts. The company’s ability to secure new financing deals and manage its debt levels will also be key factors in determining its future performance.
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.
