IRFC marches to new high; stock zooms 38% in a week on stable outlook

Shares of Indian Railway Finance Corporation (IRFC) surged 8 per cent to hit a new high of Rs 48.29 on the BSE in Friday’s intra-day trade on stable outlook.

In the past one week, the stock of state-owned financial institution company has rallied 38 per cent, as against nearly 1 per cent decline in the S&P BSE Sensex.

IRFC’s principal business is to borrow funds from commercial markets to finance acquisition of new rolling stock and construction of developmental projects or infrastructure for Indian Railways.