Indian Railways Finance Corporation (IRFC) witnessed an impressive surge of 14%, reaching a record high of Rs 129.85 on the morning of January 15. This marks a substantial rise for the multibagger stock, now boasting a nearly 400% increase from its IPO price of Rs 26.
Debuting at its issue price in 2021, the IRFC stock traded within the Rs 26 – 30 range until April 2023. However, in the subsequent months, the stock has more than tripled, consistently achieving new highs.
Analysts attribute the recent rally in IRFC’s stock to the government’s intensified focus on the sector, fresh capital infusion, and anticipated robust performance in the December quarter.
As of 10:50 am, the shares continued their upward trajectory, trading 15.61% higher at ₹131.10, reflecting investor confidence and enthusiasm for the railway finance sector.
