Q1 से पहले खुशखबरी | IRFC SHARE | सरकार से मिलेगा तोहफा

Q1 से पहले खुशखबरी | IRFC SHARE | सरकार से मिलेगा तोहफा
IRFC shares down over 10% from record high; what's next of this rail PSU stock?
IRFC share price: The stock fell 2.95 per cent to settle at Rs 205.85. At this price, it has declined 10.13 per cent from its all-time high of Rs 229.05, a level seen a few sessions earlier on July 15.
Shares of Indian Railway Finance Corporation (IRFC) Ltd on Thursday extended their downward move for the third straight session. The stock fell 2.95 per cent to settle at Rs 205.85. At this price, it has declined 10.13 per cent from its all-time high of Rs 229.05, a level seen a few sessions earlier on July 15. Despite the mentioned fall, the multibagger counter has rallied 105.09 per cent on a year-to-date (YTD) basis.
market expert suggested the rail PSU's valuation "looked stretched" currently. With that being said, one of them mentioned that the stock "is poised to continue its up move with some in-between hiccups."
Technically, immediate support on the counter could be seen at Rs 200, followed by the Rs 193-191 zone.
"IRFC has rallied in the recent past. Given a part of the railway infra theme, the stock was rising. But one need to be a bit cautious as valuations looked stretched and that is why we can see some consolidation at current levels," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.
"The stock has seen a strong spurt during last week and registered record highs. The counter is poised to continue its up move with some in-between hiccups. The bullish gap around the Rs 193-191 range is likely to cushion the stock, while sacrosanct support lies around the Rs 175-172-odd zone. On the higher end, the counter seems poised to reclaim its all-time high of 229 in the comparable period," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.
Traders can buy IRFC shares at Rs 205 level for an upside target of Rs 220 in the near term, said Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking. Keep a stop loss of Rs 200 for this trade, Singh added.
The counter traded lower than the 5-day simple moving average (SMA) but higher than the 10-day, 20-, 30-, 50-, 100-, 150-day and 200-day SMAs. The counter's 14-day relative strength index (RSI) came at 64. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's stock has a price-to-equity (P/E) ratio of 43.12 against a price-to-book (P/B) value of 5.64. Earnings per share (EPS) stood at 4.92 with a return on equity of 13.07.
IRFC borrows funds from the financial markets to finance the acquisition or creation of assets which are then leased out to the Indian Railways or any entity under the Ministry of Railways.
As of March 2024, promoters held an 86.36 per cent stake in the 'Navratna' PSU
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