IRFC share price jumped by 20% today, new 52-week high of Rs 66.78

IRFC share price rose by 20% today to a new 52-week high of Rs 66.78. The multibagger stock has gained 102.98 percent year to date (YTD) and 202.17 percent in a year.

On Monday, shares of IRFC Ltd (Indian Railway Finance Corporation Limited) rose for the sixth consecutive session. Today, the stock surged 20% to a new 52-week high of Rs 66.78. On the BSE, it eventually settled 19.78% higher at Rs 66.66.

The multibagger stock has gained 102.61 percent year to date (YTD) and 201.63 percent in a year. “Railway stocks are on the rise after the Ministry of Railways sought Cabinet approval for a Rs 5.25 lakh crore investment program between 2024 and 2031,” market analyst Ravi Singh said.

“The counter maintains its strength. It is poised to become a three-digit stock very soon after a breakout above Rs 50. Maintain a stop loss of Rs 49, and every dip is a buying opportunity with a target price of Rs 101,” said Vaibhav Kaushik, Research Analyst at GCL Broking.

According to the technical setup, IRFC is showing strength on daily and weekly charts, with momentum indicators indicating a strong move ahead with a target of Rs 80 in the near term.

“Indicators are overbought but have shown a bullish crossover internally, implying more momentum.” Fresh entry should be avoided because the risk-reward equation is unfavorable, but existing positions can be held with a trailing stop loss of Rs 58, according to Kush Ghodasara, CMT’s independent market expert.

“On the daily charts, the IRFC stock price is overbought, with the next resistance at Rs 70.65.” “Investors should book profits now as a close below support of Rs 61.5 could lead to a target of Rs 48.85 in the near term,” said AR Ramachandran of Tips2trades.

According to VP- Technical Research at Prabhudas Lilladher, Vaishali Parekh, “The stock has shown a strong surge in the last two sessions, gaining nearly 35%, with the next target visible near Rs 72.” “The stock has near-term support near Rs 60, and only a decisive break below Rs 58 would weaken the trend.”

The stock was last seen trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs). The 14-day relative strength index (RSI) for the stock was 89.41. A value less than 30 is considered oversold, while a value greater than 70 is considered overbought. The stock of the company has a price-to-equity (P/E) ratio of 11.67 and a price-to-book (P/B) value of 1.60.

Despite this, Trendlyne data show that the stock has an analyst target price of Rs 44, implying a 35% downside. It has a 1 year beta of 0.97, indicating that the stock is volatile.

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