Top PSU NBFC To Make Big Dividend Declaration On Nov 4, Analysts Suggest Buy For TP Rs 175

Large cap public sector undertaking Indian Railway Finance Corporation Ltd shares closed at Rs 157.95 per share on Bombay Stock Exchange on November 1, 2024 with gain of 1.25% intraday. IRFC shares opened at Rs 157.85, hit day's high of Rs 161.00 per share, and day's low of Rs 156.35 per share. The PSU will convene meeting of Board of Directors on November 4, 2024 to consider financial results.

It will also consider declaration of interim dividend to the shareholders in the same meeting and fixed November 12, 2024 as the record date. Indian Railway Finance Corporation shares over 17% in last 1-week and jumped 600% in last 2-years. FII/FPI reduced holdings from 1.11% to 1.09% in September 2024 quarter. Check key details below:

Indian Railway Finance Corporation Ltd To Consider Financial Results, Dividend

As per the BSE filing of Indian Railway Finance Corporation Ltd dated October 22, 2024, "meeting of the Board of Directors of the Company is scheduled to be held on Monday, 4th November 2024, inter-alia, to consider and approve the Unaudited Financial Results of the Company, and other financial statements namely Cash Flow Statement for the quarter and half year ended 30th September 2024 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 2024-25."

IRFC Sets Record Date For Interim Dividend

The exchange filing added, "further, in accordance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Record date for determining the entitlement of the shareholders for the payment of aforesaid Interim Dividend shall be Tuesday, 12th November 2024, subject to the approval of Interim Dividend by the Board of Directors."

IRFC Shares Performance

The 52-week high price of IRFC shares on BSE 229.05 per share and 52-week low price is Rs 71.03 per share. The market cap of the firm stood at Rs 2,06,417.05, according to BSE. Indian Railway Finance Corporation shares offered return of 6.98% in last 2-weeks, slipped 16.78% in last 3-months, gained 116% in last 1-year, and offered return of 542% in last 3-years.

IRFC Dividend, Bonus Share, Stock Split History

Indian Railway Finance Corporation declared 8 dividends since February 17, 2021. In last 1-year, IRFC announced an equity dividend amounting to Rs 1.50 per share. At the current share price of Rs 157.85, Indian Railway Finance Corporation offers a dividend yield of 0.95%. The company never declared any bonus share so far and has not yet split the face value of its shares too.

Should You Buy IRFC Shares?

Brokerage firm StoxBox recommended buy call to IRFC shares with target price of Rs 175 per share and stop loss at Rs 141. Meanwhile, AR Ramchandran, Independent SEBI Research Analyst said, "IRFC stock price is bullish on daily charts with strong support at Rs 143. A daily close above resistance of Rs 156 could lead to an upside target of Rs 171 in the near term."

About IRFC

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 has been picked from the brokerage report of Stoxbox and AR Ramchandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.