Shares of state-owned Indian Railway Finance Corporation (IRFC) hit a new high of Rs 52.71, gaining nearly 4 per cent in Wednesday’s intra-day trade on the BSE in an otherwise subdued market backed by heavy volumes. Till 11:20 AM; a combined 121 million equity shares representing 0.93 per cent of total equity of IRFC had changed hands on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.18 per cent at 65,282.
In past one month, the stock price of IRFC has appreciated by 62 per cent, as compared to 2 per cent decline in the benchmark index. A sharp rise in market price of IRFC has helped the company surpass private non-banking finance firm, Shriram Finance, and private sector bank, IDBI Bank, in market capitalisation (m-cap) ranking.
