IRFC Share Price:  Big news has come about the government-owned company Indian Railway Finance Corporation (IRFC) Limited. The analyst has given a target for IRFC. IRFC shares, which reached the highest level of Rs 229 since July 15, 2024, have fallen by 33%. IRFC saw a gradual recovery at its highest level of 230. According to Aditya Agarwal, Head of Derivatives and Technical Analyst at Sanctum Wealth, at the upper level of IRFC, the stock failed to break its resistance zone of 160.
 

Agarwal said IRFC needs to hold above the Rs 160-164 zone, which coincides with its 50 level and 200-day moving average. "From a short-term perspective, the stock is expected to consolidate between ₹140-160 with no clear direction," he

said. The analyst added that if the stock closes above 160, another round of short-covering could begin which could take the stock towards 175/180 levels. IRFC announced its September quarter results on November 4, where its topline grew 2% to ₹6,899.3 crore compared to the same quarter last year. The firm's net profit grew 4.4% to ₹1,612.6 crore compared to the year-ago quarter.
 

How were the Q2 results?
Operating profit in the second quarter grew 4.4% to ₹1,613.1 crore compared to a year ago. Provisions for the second quarter stood at ₹47 lakh compared to a write-back of ₹3.63 crore in June. IRFC was the first IPO of 2021 and made its stock market debut at its issue price.

Interestingly, as of April 2023, the stock was still trading around its IPO price, in the ₹26 - ₹30 range. However, the stock had a stellar 2023, during which the stock nearly tripled.

This growth continued this year as well, when the stock jumped more than 50%. Even at Wednesday's current market price, IRFC shares are up 6 times from its IPO price of ₹26 per share. At the current price, IRFC has a market capitalisation of Rs 2 lakh crore, which is more valuable than many Nifty 50 companies, and also more than most railway-linked companies.

IRFC shares are currently trading 1.53% higher at Rs 153.76. The stock has gained 6% in the last one month, and has doubled investors' wealth by 111% in the last one year.