The shares of the Indian Railway Finance Corporation, or IRFC, have been gaining popularity. In 2023, after a fantastic year, the shares took a significant tumble. IRFC’s share price closed at Rs. 165.88 on the final day of trading.
The price dropped to 2.28% from the previous closing of Rs. 169.75. This loss is part of a larger trend. In the previous week, IRFC decreased by 5.76%; over the last month, it has dipped by 7.74%.
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Recent Performance And Market Trends
Pressure On Railway PSU Stock
Recently, there has been pressure on the railway PSU stock, which has dipped by around 31% from its peak. In addition, data revealed that IRFC shares have dropped by over 13% in the last month. Despite this, they have generated a positive return of 59% in 2024.
Long-Term Performance
The IRFC share has also increased by 112.6 per cent, 649.8 per cent, and 613 per cent during the last one, two, and three years, respectively. The total market cap of IRFC was Rs. 2.05 lakh crore.
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Analyst Highlights Best Exit Strategy for IRFC Stock
While the stock has experienced fluctuations and is slightly volatile, an ET Now analyst highlighted the future course of IRFC. The expert said,
“IRFC’s 200-EMA (exponential moving average) is around Rs 150, and we might see a bounce when it reaches this level. If, during that bounce, it fails to surpass Rs 180, then it will likely head downwards again. So, when the bounce occurs, if it doesn’t break past Rs 180, it’s best to exit. The major action in PSU stocks has already happened. Whether people are ready to accept this or not, will be evaluated later. However, if we look at the monthly and weekly charts, it’s clear that at this level, people are continuously selling off.”
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