Shares of Indian Railway Finance Corporation (IRFC) are witnessing a spectacular rally
and crossed the IPO price yesterday for the first time after listing.
For the first time the share prices of IRFC have gone above the IPO price.
IRFC shares were listed in the market last year. Despite strong fundamentals,
IRFC shares had failed to generate good returns, however, going by the current market trends, things seem to be changing now.
Shares of IRFC saw a jump of up to 7.07 percent today i.e. on the morning of 17th November and at the time of writing the news,
its shares were trading at Rs.28. It had also touched a record high of Rs 28.65 during morning trade.
The IPO price of ERFC was fixed at Rs 25 to 26 per share. The Indian Railway Finance Corporation (IRFC) is a dedicated funding body for the Indian Railways.
This company was established in December 1986 so that money can be raised from India and abroad for Indian Railways. According to various reports,
the NPA of this company is zero. IRFC funds 45 to 55 percent for railway infrastructure projects.
IIFC gives loan at very low interest rate. In lieu of government guarantee, this company provides loans to the railways.