IRFC Share Price Target 2024: Indian Railway PSU stocks witnessed a strong upside rally on today’s trading session. The shares of Indian Railway Finance Corporation (IRFC) currently trading at Rs 205 with a gain of 0.46% on July 11, 2024. The share touched its all-time high Rs 213.24 on July 9 . Despite a strong recovery in the last week, IRFC Shares are still 3.25 % behind from its all time high which creating confusion among investors whether they should buy, hold or book profit.
Market expert Amit Bhuptani, an analyst at Nirmal Bang has shared his opinion on railway PSU stocks including IRFC. Let’s know in details what the expert said about IRFC share in a recent interview.
IRFC Share Price Target 2024
The analyst from Nirmal Bang said, all the railway shares are experiencing a strong upside rally and also large number of volume addition has been seen recently. According to him, IRFC share looks good at the current price so he advised to hold on the share for good profit in next 2 months. The shares of IRFC are experiencing huge volatility at the level of Rs 190 to Rs 200. Amit Bhuptani believes if the shares of IRFC crosses Rs 190 level and consolidate for some time then it will create a good buying momentum.
According to him, the shares of IRFC will see a huge upside rally in next 2 months. The share price will touch the level of Rs 240 to Rs 260 soon, if it crosses Rs 190 level.
Also Read: IRFC Dividend 2024 Record date, Q4 Result; Can Stock Hit New All-time High?
Future Outlook
The future of Indian railway stocks looks good as BJP continuing their third consecutive term and Ashwini Vaishnaw remains Railway minister. This means policy continuity will be implemented which will generate good profits for investors. The government of India are focused to develop railway infrastructures in the next 2 years and planning to spend around Rs 2.52 lakh crore on it. IRFC is a company that provides financial supports to the development of new projects. With all the financing to be done by IRFC, the share will experience a steady growth throughout the year will deliver huge profits in coming years.
Investors should note that Union government still holds the largest stake of 86.36% in this railway stock. The income and profit growth has been amazing so far in the last 5 years. This reflects the potential of the company.
IRFC Share Price History
On NSE, the shares of IRFC opened at Rs 207.40 and touched a high of Rs 209.10 on July 11. The 52-week high of IRFC is Rs 213.20 and low is Rs 32.35. This means, the stock has given nearly 7X returns in the last year. After the huge correction on Tuesday, June 4, the shares have witnessed an uptrend and recovered nearly 30% in the last week. The market cap of the company stands at Rs 2,30,267.08 crore.
IRFC Share Performance
IRFC share emerged as a multi bagger stock for investors. The shares of IRFC have returned more than 700% since its IPO listing. So far this year the stock has given 103% return and in the last one year it has rallied more than 522% so far and offered impressive returns to investors.
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