Shares of Indian Railway Finance Corporation Ltd (IRFC), the financial arm of the Indian Railways are in news today after the company said its board has approved financing up to Rs 700 crore under the finance lease for 20 BOBR rakes procured under the General-Purpose Wagon Investment Scheme (GPWIS) of the Ministry of Railways for NTPC. The Board also appointed Ajoy Choudhury as Chief Risk Officer for a fixed tenure of two years.
IRFC stock ended 5.16% higher at Rs 151.80 on Tuesday. The multibagger stock saw a high turnover of Rs 76.38 crore with 51.60 crore shares changing hands on BSE. Market cap of the firm climbed to Rs 1.98 lakh crore on BSE.
The IRFC stock fell to a 52 week low of Rs 65.75 on October 26, 2023 and a 52 week high of Rs 229.05 on July 15, 2024.
IRFC stock is neither overbought nor oversold on technical charts as the relative strength index (RSI) of IRFC stands at 36.8. The IRFC stock has zoomed 102.91% in the last one year. In the current year, the stock has rallied 51.24%. In two years, the stock has gained 611% and risen 543% in three years.
IRFC stock has a one-year beta of 1.6, indicating average volatility during the period. IRFC stock is trading lower than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
Indian Railway Finance Corp borrows funds from the financial markets to finance the acquisition/creation of assets which are then leased out to the Indian Railways or any entity under the Ministry of Railways.