IRFC Share Price Target 2024, IRFC Share Price Today: Shares of Indian Railway Finance Corporation (IRFC) on Monday (May 27) touched record high of Rs 192.80. The railway PSU stock has rallied over 28 per cent in the past 10 sessions and has already multiplied investors’ IPO investment in the stock by 7 times, rising over 620 per cent.
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With just around Rs 7 shy of reaching the psychological Rs 200 level, IRFC has its investors on edge. Will the railway PSU stock touch Rs 200 or will it slip from here? Here’s what Deven Mehata, Research Analyst at Choice Broking says.
IRFC Share Price Target 2024
According to Mehata, the current price action in IRFC suggests upward momentum, particularly above Rs 178 levels. The Research Analyst sees an immediate target of Rs 190 coming soon and a further Rs 205 coming next.
“The stock has given a breakout of a symmetrical triangle pattern, indicating a potential continuation of the upward trajectory,” as per Mehata.
Furthermore, he adds, “IRFC’s Relative Strength Index (RSI) at 70.10 levels underscores the underlying strength of the stock, aligning with the bullish sentiment.”
IRFC Share Price History
IRFC is a constituent of S&P BSE 200 and commands a market cap of Rs 2,44,969.14 crore.
Its shares, according to BSE Analytics, has appreciated 28.33 per cent in the past two weeks, 18.51 per cent in the past one month and 86.61 per cent so far in 2024. Over six months, the railway psu stock has rallied 146 per cent and delivered multibagger returns of 486.78 per cent in the past one year.
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Looking back further, the stock gave a return of 783.5 per cent in the past two years and 692 per cent in the past three years, per BSE Analytics.
IRFC Dividend 2024
IRFC, along with releasing its fourth quarterly (Q4) number for the fiscal year 2024 (FY24), announced a final dividend of 70 paisa for FY24.
“Board of Directors has recommended the final Dividend of Rs 0.70 per equity share of Rs 10/- each for the financial year 2023-24, subject to approval of shareholders at the ensuing Annual General Meeting (AGM). This is in addition to the Interim Dividend of Rs 0.80/- per equity share declared on 2nd November 2023, thereby making total dividend for the Financial Year 2023-24 to Rs 1.50 per share, on the face value of Rs 10/-each,” said the company.
IRFC Dividend 2024 Payment Date
For the payment date of its upcoming dividend, IRFC said, “The Final Dividend for the financial year 2023-24 of Rs 0.70 per share, if declared at the ensuing AGM, will be paid to the shareholders within 30 days from the date of AGM.”
IRFC Dividend History, Yield
According to BSE website, IRFC in 2023 distributed a dividend of Rs 0.80 in November and Rs 0.70 in September on each stock to its investors.
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In 2022, the railway company had paid a dividend of Rs 0.80 on each stock in November and Rs 0.63 in September. Back in 2021, IRFC rewarded its investors by paying a dividend of Rs 0.77 in November and Rs 1.05 in February.
At the current market price, IRFC’s dividend yield stands at 0.80 per cent.
