IRFC Share Price Target 2024: In the past year, the shares of Indian Railway Finance Corporation, or IRFC, have shown an impressive performance on Dalal Street. Among the public sector undertakings (PSUs), it stands out, multiplying investors’ wealth more than twice. IRFC is a Mini Ratna public sector company under the administrative control of the Ministry of Railways, working to raise funds for Indian Railways. Let’s explore what kind of performance it might deliver in the future.
The performance of IRFC shares has been remarkable in recent months. In just the past week, they have surged by approximately 33%. This momentum could be attributed to the recently announced Rail Budget, which includes substantial investment in the fundamental infrastructure of the railways.
IRFC Share Price Target 2024:
Technical analyst Nilesh Jain has noted, “There is good momentum in IRFC shares, strength… PSU shares are quite positive. Buying at this price is not advisable, and one should wait for a correction to enter anew.” He has identified the support around ₹115 and suggests holding for the target of ₹150-170 for those who have invested in the shares.
IRFC Share Price History:
According to BSE Analytics, IRFC shares have witnessed a growth of 32.90% in 2024 so far, with a month-on-month increase of 40.87%. In the last three months, this PSU stock has provided a positive return of 74.05%.
Going further back, in the last six months alone, IRFC shares have seen an astounding rally of 309.67%. Over the past two years, this PSU stock has yielded a return of 462.83%, bringing substantial profits to investors.
IRFC Dividend History:
According to the BSE website, IRFC issued dividends twice in 2023 – ₹0.80 in November and ₹0.70 in September. In 2022, the company distributed dividends of ₹0.80 in November and ₹0.63 in September. In 2021, the Indian Railway company gave a total dividend of ₹1.82 per share on two occasions.
[Disclaimer: This article is for informational purposes only and should not be considered as investment advice in any way.]