IRFC shares gains focus, 55 lakh new retail shareholders of PSU to witness quarterly earnings
The stock has recovered 15% during these five days after a previous decline. As of last Monday's closing, the stock had fallen 40% from its record high of Rs 229.
IRFC shares gains focus, 55 lakh new retail shareholders of PSU to witness quarterly earnings
Shares of Indian Railway Finance Corporation Ltd (IRFC), the railway financing arm, are experiencing gains for the fifth consecutive day on Monday, January 20, ahead of its December quarter results, which are expected to be announced later today.
The stock has recovered 15% during these five days after a previous decline. As of last Monday's closing, the stock had fallen 40% from its record high of Rs 229.
The railway public sector undertaking (PSU) also released its shareholding pattern for the December quarter, which has remained nearly unchanged from the September quarter. The government continues to hold a majority stake in IRFC, with an ownership percentage of 86.36%.
IRFC now has nearly 5.5 million retail shareholders—individual investors with an authorized share capital of less than Rs 2 lakh. This number is similar to the September quarter.
Mutual funds own a 0.24% stake in IRFC, while foreign portfolio investors (FPIs) hold a 1% stake. Retail investors currently own 9.63% of the company, an increase from 9.23% in September.
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The company had signed a leasing pact with NTPC last Wednesday for eight BOBR rakes worth Rs 250 crore. While it had also emerged as the lowest (L1) bidder to finance Rs 3,167 crore for a coal mine in Jharkhand on Tuesday.
Shares of IRFC are currently trading 0.9% higher ahead of its results announcement at Rs 147.5. The stock is down 8% over the last 12 months.
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