IRFC Share Price NSE, IRFC Share Price Target 2022, 2023: Shares of Indian Railway Finance Corporation (IRFC) scaled to an all-time high on Thursday, November 24. The stock opened at Rs 29.50 apiece on NSE and rallied more than 7 per cent to hit a life high of Rs 31.45. The strong momentum in the counter in the past few days has brought much-needed relief to IRFC investors who were waiting for a trend reversal since its stock market debut in January 2021.

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IRFC IPO Price Listing

 

IRFC is a wholly owned subsidiary under the Ministry of Railways. The government-owned company's stock is in news since last week after it surged over the IPO price of Rs 26. 

IRFC shares had made a muted stock market debut in January last year, listing at a discount of 4.23 per cent at Rs 24.90 apiece on NSE. The stock since then traded in a range and hardly moved in an upward trajectory. 

 

IRFC Share Price NSE Target 2022, 2023

 

According to Zee Business panellist and TradeSwift director Sandeep Jain, the view on IRFC stock is positive. He, however, suggested avoiding fresh entry, adding that one should wait for the level of Rs 27-28 for fresh buying.

For existing shareholders, he suggested holding the position.

IRFC share price target would be Rs 40, he said. The time duration for the target is 9 to 12 months.

Technical analyst Nilesh Jain too said that the technical view on IRFC is positive and that the stock could yield up to 10 to 15 per cent return from the current level. He, however, said that one should avoid fresh buying as the counter has rallied more than 40 per cent in the past 1 month.

 

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