Indian Railway Finance Corporation (IRFC) shares jumped 3% in early trade following the announcement of a lease agreement with NTPC Limited, a Public Sector Enterprise under the Ministry of Power. The agreement, part of a broader financing initiative, aims to fund 20 BOBR rakes under the General Purpose Wagon Investment Scheme (GPWIS) of Indian Railways.
Key Highlights:
- Financing Amount: IRFC’s board approved up to ₹700 crores for the procurement of 20 BOBR rakes.
- Phase 1 Financing: The initial agreement covers 8 rakes, valued at ₹250 crores.
- Purpose: The deal aims to support infrastructure development with innovative financing solutions.
IRFC (Indian Railway Finance Corporation) shares opened at ₹140.00, reaching a high of ₹142.70 and a low of ₹139.20 during trading. The stock has seen significant volatility, with a 52-week high of ₹229.00 and a 52-week low of ₹116.65. As of 9:39 AM, the shares were trading 3.58% higher at Rs 142.49.
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