IRFC zooms 28% in 2 days on heavy volumes; market-cap hits Rs 80 , 000 crore

Shares of state run financier Indian Railway Finance Corporation (IRFC) hit a record high of Rs 64.50, as they rallied 14 per cent on the BSE in Monday’s intra-day trade on heavy volumes. In past two trading days, it zoomed 28 per cent.

Till 09:38 AM, a combined 160 million equity shares, representing nearly 1 per cent of total equity of IRFC, had changed hands on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.16 per cent at 65,493.

Since July, the stock price of IRFC has nearly doubled from level of Rs 32.35. A sharp rise in the stock price of IRFC has helped the company surpass it market capitalisation over Rs 80,000 crore.