Indian Railway Finance Corporation (IRFC) shares continued their upward trend for the fifth consecutive session on Monday, as investors eagerly awaited the company’s December quarter results slated for release later in the day. The stock was trading at ₹146.85, marking a 0.66 per cent increase or ₹0.45.
Recent business developments have bolstered investor confidence in the state-run railway financier. Last week, IRFC inked a leasing agreement with NTPC for eight BOBR rakes valued at ₹250 crore. Additionally, the company emerged as the lowest bidder for financing a coal mine project in Jharkhand worth ₹3,167 crore.
Shareholding data indicates that the government maintains its majority stake in IRFC at 86.36 per cent. Retail investors have slightly increased their holdings to 9.63 per cent compared to 9.23 per cent in September, while Foreign Portfolio Investors (FPIs) hold a 1 per cent stake. Mutual Funds have a minimal presence with a 0.24 per cent stake in the company.
As the dedicated financing arm of Indian Railways, IRFC has garnered heightened interest from investors given these recent developments and the upcoming quarterly results.
Published on January 20, 2025.
