IRFC share price updates Here to Know some facts

Indian Railway Finance Corporation stock price went down today, by -1.09 percent amid surpassing the record of 52-week high Rs100.84. The stock is currently trading at 99.05 per share.

IRFC share price updates Here to Know some facts

The Indian Railway Finance Corporation [IRFC] had an open price of Rs 95.34 and a close price of Rs 94.36 on the last day of trading. The stock had a high of Rs101.47 and a low of Rs94.59. The total market capitalization of IRFC corresponds to around Rs130,868.02 crore. The stock's 52-week high is stood at Rs100.84 while its 52-week low is Rs25.45. The BSE volume for IRFC shares was standing at 41,472,790. As per recent data, the stock had a low price of Rs97.28 and a high price of Rs104.14 on the current day.

On the contrary, the share price of IRFC hit an all-time 52-week high share price , outstanding quote at Rs104.10 a share on the National Stock Exchange [NSE]. IRFC share price climbed nearly 4 per cent to touch the record high intra-day from its previous close of Rs100.10 per share on the NSE. The counter has gained massive investors' interest after a marathon rally that has delievered a whopping of over 200 percent returns in just 180 days.

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IRFC share price was trading in green in Monday's trade to quote at Rs100.25 a share, approximately up by 0.15 percent on the NSE at around 12.20 pm. A total of 152.83 lakh shares were joined around to constitute S&P BSE 200 index, generating a total turnover of Rs155.75 crore. The company has a market cap of Rs1,30,776.54 crore, as per the BSE website. The shares of the company have a PE of 21.57x.

The stock is expected to have test levels of Rs108-Rs113 over short term, while flagging a potential downside considering the recent rally. The investor should maintain a stop loss of Rs96. The stock is poised for an upside based on technical indicators such as the Average Directional Index[ADX], which shows trend strength at 33.31 on a daily chart and 50.98 on a weekly chart.

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IRFC is currently trading above its 50-day and 200-day Simple Moving Averages[SMA], notwithstanding which, the stock has managed to trade with stability. According to Trendlyne, its 1-year beta stands at 0.7. The recent rally has brought the stock into a strongly overbought zone with Tuesday's RSI and MFI showing levels of 85.1 and 84.7, respectively.

FUNDAMENTAL VIEW OF SECTOR:

IRFC plays a vital role in supporting Indian Railways' Infrastructure development plans and it is expected to invest Rs 1 trillion in acquiring new trains over the next few years.

The company reported a 16 percent jump in its September quarter revenue at Rs6,766.32 crore versus Rs5,809.80 crore reported by the company in the year-ago period. The consolidated net profit for the reported quarter stood at Rs1,549.87 crore which was down 9.5 percent year-on-year from Rs1,714.28 crore in Q2FY23.

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