IRFC share prices hit high over 9% crossing 52-week high

IRFC shares continued to upmarch the stock trending session for the sixth consecutive time. The company is expected to witness sharp gains due to consequential growth in budget allocation and natives and investors critically acclaiming the significant revenue ratios in return. The company's shares were trading higher than the 5-day, 10, 20, 30, 50, 100.. as per simply moving average. Analytically observing the numerical facts, it is observed that the 14-day relative strength index [RSI] surrounds 91.54. 

The company's stock has price an equity [P/E] ratio of 28.02 against a price-to-book [P/B] value of 3.57. At the same time, support on the counter could be seen around the Rs 120 level.

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The IRFC shares again hit a fresh 52-week high of Rs 146.80 per share, contributing a great revenue potential in stock market appearance and as well as has delivered multi-bagger returns to investors in a previous financial year. As per the provisional aspect, the company's stock is displaying strong technical support with strong levels around Rs 120-115 and a possibility of climbing to Rs 164 on the higher side.

According to Sensex observers, BSE, and IRFC shares have climbed 13% in 2024 so far and 36% in the past month. In three months, the PSU stock has delivered a positive return of 51 percent.

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The current scenario showed that the company's shares prices transformed the stock into a multi-bagger in just 6 months, ramport growth of a massive 244 percent. The recent data clicks a dividend yield of 1.32 percent, and as per the previous year's official data, IRFC paid dividends twice, Rs 0.80 in November and Rs 0.70 in September.

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