Market expert Rajesh Bhosale from Angel One is optimistic about the shares of the state-owned Indian Railway Finance Corporation Limited (IRFC Ltd). He believes that investing in this railway stock will pay off for investors in the long run.IRFC is a Mini Ratna Schedule-A public sector enterprise that operates under the Ministry of Railways. It serves as the primary financing arm for the Indian Railways.
As of around 11:22 am, shares of IRFC Ltd rose by 5.71%, trading at ₹146.18 each. The stock opened higher at ₹140.30, compared to the previous closing of ₹138.29. During this time, over 20.78 million equity shares changed hands.
IRFC Q2 Results FY2024-25
In its financial results for Q2 of FY 2024-25, IRFC Ltd reported a profit after tax (PAT) of ₹3189.47 crore, up from ₹3095.86 crore in the same period last year. This marks a profit growth of 4.41%, with the current quarter showing a profit of ₹1612.65 crore, compared to ₹1544.58 crore in Q2 of FY 2023-24. This year, IRFC declared dividends of ₹0.70 in August and ₹0.80 in November. Last year, the company also announced dividends of ₹0.70 in September and ₹0.80 in November.
IRFC Share Price History
IRFC Ltd is part of the BSE 200 index. As of November 19, the stock has increased by 0.48% over the past week. However, shares of the state-run company have dropped 1.05% over the last month and 18.90% over the past three months. Year-to-date, the PSU stock has gained 45.56%. In the last year, two years, and three years, the stock has seen increases of 90.01%, 430.31%, and 519.07%, respectively.Despite its long-term potential, the stock is currently showing signs of weakness in the short term, with no major signs of recovery visible. Bhosale advises investors to consider partial profit booking. He suggests that if the stock dips to the ₹120-₹130 range, it could be a good time to buy more shares, making it a buying opportunity at that level.
