Indian Railway Finance Corporation (IRFC) shares rose by 2% following the announcement of a strategic partnership with Railway Energy Management Company Ltd (REMCL), a joint venture of the Ministry of Railways (MOR) and RITES.
IRFC shares opened at 153.40, reaching a high of 156.80 and a low of 153.25. The stock is currently well below its 52-week high of 229.00, offering potential for growth. However, it remains significantly higher than its 52-week low of 99.00.
The Memorandum of Understanding (MoU) aims to finance renewable energy projects to power Indian Railways, supporting its goal of achieving net-zero carbon emissions by 2030.
Under the MoU, IRFC will explore financing options for thermal, nuclear, and renewable energy projects, while REMCL will leverage its expertise in procuring cost-effective power for the railways. The collaboration supports the Indian government’s vision of sustainable, eco-friendly transportation.
As of 9:26 AM, IRFC shares were trading 2.02% higher at Rs 155.11.
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