The share price of largest railway stock Indian Railway Finance Corporation Ltd (IRFC) will be in focus on Tuesday, September 30th, after the NBFC signed back to back deals worth nearly Rs 36,518 crore to fund several projects and companies. These deals were signed from September 26th to September 29th. IRFC is currently the fourth largest NBFC with market cap of over Rs 1.62 lakh crore.

IRFC Mega Term Loans:

IRFC - HPGCL Project - Rs 5,929 Crore

This is the latest deal that IRFC announced on September 29. As per the regulatory filing, IRFC signed a loan agreement with Haryana Power Generation Corporation Limited (HPGCL) at its Corporate Headquarters in Panchkula for financing of up to Rs 5,929 crore towards the upcoming 800 MW (3rd Unit) supercritical thermal power project at Deenbandhu Chhotu Ram Thermal Power Plant (DCRTPP), Yamunanagar.

IRFC - MAHAGENCO - Rs 10,560 Crore

Also, on September 29, IRFC announced the signing of term loan agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO), under which, it will finance up to Rs 10,560 crore e towards the upcoming 2x660 MW supercritical expansion project at Koradi Thermal Power Station (TPS), Nagpur.

IRFC-PVUNL - Rs 3,388.51 Crore

This one was signed on September 27. IRFC announced that it has extended loan assistance of Rs 3,388.51 crore to Patratu Vidyut Utpadan Nigam Limited (PVUNL), a subsidiary of NTPC Limited which is a Maharatna PSU. This loan will be meant for developing the Banhardih Coal Block in Latehar district, Jharkhand.

IRFC - CSPGCL - Rs 12,640 Crore

During the weekend on September 26th, IRFC sanctioned a rupee term loan worth whopping Rs 12,640 crore to Chhattisgarh State Power Generation Company Limited (CSPGCL), a wholly owned entity of the Government of Chhattisgarh, for financing its upcoming 2x660 MW Super Critical Thermal Power Project at HTPS, Korba West.

IRFC-Talcher Fertilizers - Rs 4,000 Crore

IRFC has further extended loan assistance of Rs 4,000 crore to Talcher Fertilizers Limited (TFL) as part of the Government of India's fertilizer revival programme. The loan is towards the project as part of the sanctioned debt package, in consortium with other lenders, with the total debt component amounting to Rs 12,250 crore.

Accordingly, from September 26th to September 29th, IRFC sanctioned or signed lending deals worth Rs 36,517.51 crore.

IRFC Share Price:

After market hours on September 29th, IRFC stock price closed at Rs 124.25 apiece on BSE, up by 1.93% with market cap of Rs 1,62,376.19 crore. The stock's 52-week high and low is at Rs 166.85 apiece and Rs 108.05 apiece respectively. While its price-to-equity ratio stood at 24.34x, and return on equity at 12.96%.

In past five sessions, the stock price has dropped by a little over 3% on BSE. But in past month, the performance has been positive with gains of 3.11%. However, year-to-date, the stock is down by 17.33%.

IRFC Share Buy/Sell?

As of now, broker PL Capital has recommended BUY on IRFC stock with target price of Rs 15 and stop loss at Rs 110.

About IRFC:

IRFC is a Navratna 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.

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