Multibagger Railway PSU Stock Falls 6.24% Intraday, Dividend Announcement Soon

Multibagger PSU Railway stock Indian Railway Finance Corporation Ltd shares saw a decline of 6.24% on October 23, 2023 as BSE Sensex tanked over 800 points. Last trading price of IRFC share on BSE is Rs 72.22 per share. Indian Railway Finance shares declined nearly 5% in last 1-week. Board of directors are scheduled to meet on November 2, 2023 to approve quarterly results and consider announcement of interim dividend too. Indian Railway Finance stock offered 107% return in last 3-months span. Check details below:

Indian Railway Finance Corporation To Announce Q2 Results, Interim Dividend Soon: As per the exchange filing of the company 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."

The company fixed November 10, 2023 as the record date for interim dividend.

IRFC Stock Outlook & Return In Last 5 Years: Last trading price of IRFC shares on BSE is Rs 72.22 per share. The stock's 52-week high price is Rs 92.94 per share and 52-week low price is Rs 21.30 per share, respectively. Its market cap is Rs 94,380.75 crore. Indian Railway Finance stock gained 157% in last 6-months, soared 238% in last 1-year, and offered rally of 180%.

Indian Railway Finance Recent Financials Performance: It announced the 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.

Disclaimer

The stock just highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.