PSU Railway Stock Falls For 4th Day, Down 14% In 1 Week Ahead Of Q2, Dividend

Multibaggar PSU Railway stock IRFC continue to trade in red for the fourth consecutive day today. Indian Railway Finance Corporation Ltd shares declined 5.15% intraday today. IRFC stock recorded a decline of 14% in last 1-week as Sensex fell 3.71% in this tenure. However, IRFC stock witnessed a gain of nearly 89% in last 3-months. Last trading price of IRFC share on BSE is Rs 66.74 per share.

Board of directors of IRFC will meet on November 2, 2023 in order to consider and approve financial results and also consider declaration of interim dividend in the same meeting. The company issued a BSE filing on October 20 regarding results and interim dividend announcement. Check details below:

Indian Railway Finance Corporation To Approve Q2 Results, Interim Dividend On November 2: According to the BSE filing of IRFC dated October 20, "Meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 2nd November 2023, inter-alia, to consider and approve the Unaudited Financial Results of the Company, and other financial statements namely Cash statement for the period ended 30th September 2023 and Statement of Assets and Liabilities as on that date. The Board will also consider declaration of Interim Dividend to the shareholders of the Company for the financial year 2023-24."

IRFC has already set November 10, 2023 as the record date for interim dividend.

IRFC Stock Outlook & Return In Last 5 Years: Current market price of IRFC share on BSE is Rs 66.74 with intraday fall of 5.04%. IRFC stock opened at Rs 68.69 per share today, hit day's high of Rs 69.40 per share and day's low of Rs 65.75 per share today. The company has a market capitalisation of Rs 87,336.83 crore. IRFC stock declined nearly 11% in last 2-weeks. The Railway stock offered return of 120% in last 6-months and soared 203% in last 1-year only. In last 2-years, IRFC shares surged 168%.

Indian Railway Finance Financials: IRFC declared its net sales at Rs 6,679.17 crore in June 2023, up 18.69% as compared to Rs 5,627.44 crore in June 2022. IRFC's quarterly net profit declared at Rs 1,556.57 crore in June 2023, down 6.32% as against Rs 1,661.58 crore in June 2022. Its EBITDA declared at Rs 6,651.77 crore in June 2023 up 18.68% from Rs. 5,604.73 crore in June 2022.

About: Indian Railway Finance Corporation (IRFC) was set up on 12th December, 1986. IRFC is a Schedule 'A' Public Sector Enterprise under the administrative control of the Ministry of Railways, Govt. of India. It is also registered as Systemically Important Non-Deposit taking Non Banking Financial Company (NBFC - ND-SI) and Infrastructure Finance Company (NBFC- IFC) with Reserve Bank of India (RBI). In more than 30 years of existence, IRFC has played a significant role in supporting the expansion of the Indian Railways and related entities by financing a significant proportion of its annual plan outlay, according to its official website.

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