Shares of Indian Railway Finance Corporation (IRFC), the dedicated funding arm of Indian Railways, reached a remarkable milestone on Monday, hitting an all-time high of Rs 84.8 per share and triggering a 10% upper circuit during intraday trading.
IRFC’s stock has been on a three-session winning streak, witnessing a notable 23.3% surge during this period. Impressively, it has experienced only one dip in the past 11 consecutive trading days, surging by an impressive 75.2% in that span.
This impressive rally in IRFC’s shares has propelled the company’s market capitalization beyond the Rs 1,00,000 crore mark as of September 11, 2023, with a valuation of Rs 1,10,820 crore during the trading session.
This achievement cements IRFC’s position as one of India’s top ten most valuable state-owned companies, surpassing the market capitalization of entities like GAIL, IRCTC, and Bharat Electronics, among others.
The stock’s spectacular performance in 2023 has seen it surge by a remarkable 160.5%, while over the past year, it has skyrocketed by an astounding 237.4%, firmly establishing IRFC as a multi-bagger investment.
Among India’s most valuable state-owned firms, IRFC now joins the ranks of SBI, LIC, NTPC, ONGC, Power Grid Corporation, Coal India, Hindustan Aeronautics, SBI Life Insurance, and Indian Oil.
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