IRFC Share Price:
The stock today surged by 20 percent to reach its new 52-week high of ₹66.78, marking a year-to-date (YTD) gain of 102.98 percent and a one-year increase of 202.17 percent.
Indian Railway Finance Corporation Limited (IRFC Limited) continued its bullish run in Monday’s trading session. The stock surged by 20 percent today, reaching a new 52-week high of ₹66.78. It ultimately closed at ₹66.66, up by 19.78 percent on BSE. On a year-to-date (YTD) basis, the multibagger share has witnessed a rise of 102.61 percent, and over the course of one year, it has gained 201.63 percent.
Market expert Ravi Singh mentioned, “There is a bullish trend in railway shares following the Cabinet’s approval for a ₹5.25 lakh crore investment program during 2024-2031 by the Ministry of Railways.”
He noted that on the technical setup front, IRFC is displaying strength on both the daily and weekly charts, providing signs of a strong move towards the ₹80 mark in the near term.
“The IRFC stock price has been purchased aggressively on the daily chart at ₹70.65 resistance. Investors should consider booking profits at the current levels as a dip below the support at ₹61.5 could lead to a target price of ₹48.85 in the near term,” said Aar Ramachandran, Tips2Trades.
“The counter has shown continuous strength. After breaking out above ₹50, it is poised to become a three-digit stock very soon. Keep a stop loss at ₹49 and consider buying on dips for a target price of ₹101 on every correction,” added Vaibhav Kaushik, Research Analyst, JL Broking.
In the last two sessions, the stock has indicated a surge of almost 35 percent, with its next target seen around the ₹72 level. Prabhudas Lilladher’s Deputy Vice President – Technical Research, Vaishali Parekh, mentioned, “The stock has support around ₹60 and any breach below ₹58 will weaken this trend.”
“The counter has shown a breakout near the ₹51 level based on volume and continues to move higher. As far as levels are concerned, the ₹51 range is likely to work as strong support, with a break below it possibly targeting ₹48.85 in the short term. On the other hand, trading with a positive bias is probable until the counter stays above support zones. It can keep marching in the unknown territory, but everyone needs to be cautious and adopt a practical approach on the counter,” said Osho Krishan, Senior Analyst – Technical & Derivative Research, Angel One.
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The stock is in the overbought zone, but an internal crossover has been shown, indicating some more momentum. CMT’s Independent Market Analyst Kush Ghodasara stated that caution can be exercised with the recent entry as the risk-reward ratio is not favorable, but the current status could be maintained with a stop loss at ₹58.
Looking at trendlines, the analyst’s target price for the stock is ₹44, suggesting a potential decline of 35 percent. Its one-year beta stands at 0.97, signifying average volatility on the counter.
IRFC raises funds from financial markets for the acquisition or construction of assets and later leases them to Indian Railways or units under the Ministry of Railways.”
- Unlocking the Growth: Dive into the intricate details of IRFC’s recent stock price surge and discover what’s been driving its remarkable growth.
- 2023 Market Insights: Explore the year-to-date (YTD) performance and the significant milestones IRFC’s stock has achieved in 2023.
- Expert Opinions: Gain valuable insights from market experts who weigh in on IRFC’s current trajectory and what the future may hold.
- Technical Analysis: Learn how technical indicators and charts are indicating a potential upward movement in IRFC’s share price.
- Investor Strategies: Discover the strategies investors are considering and whether IRFC remains a favorable investment option.
- Risks and Rewards: Understand the risks associated with investing in IRFC and the potential rewards for those willing to take the plunge.
- What Lies Ahead: Get a glimpse of the factors that could influence IRFC’s share price in the coming months and years.
- Analyst Recommendations: Find out what analysts are advising regarding IRFC’s stock, including potential target prices.