Indian Railway Finance Corporation (IRFC) has announced its Q2 results. After which selling pressure was seen in the share price on Tuesday. IRFC shares hit an intraday low of ₹153 per share on NSE and then touched an intraday low of ₹148.61 per share.
Market expert Raghavendra Singh from Business Today has given his view on IRFC. He says that after the results a decline is being seen in the stock. According to the chart pattern, the stock has formed a head and shoulders pattern. On this basis, further correction may be seen in the stock. This means the stock could fall further. The stock price may also reach the level of 140 to 142. However, experts say that these levels will be buying ones. It is advised to put a stop loss of Rs 134 in the stock. Whereas the target of the stock has been given at Rs 160 and Rs 170 per share. Here it is also advised not to invest all the money in stocks, invest little by little. The market may reverse from here, it has been oversold. This stock will also go up soon.
On the other hand, while decoding IRFC’s Q2 results 2024, Seema Srivastava, Senior Equity Research Analyst, SMC Global Securities, said that IRFC’s share price has fallen, while the quarterly results have been better than market estimates. IRFC reported growth in topline in Q2FY25 results, while the company’s NII and net profit also increased. The company’s management also gave strong guidance, which bodes well for the company in the long term. Choice Broking Executive Director Sumeet Bagadia says that IRFC’s share price looks positive on the technical charts. IRFC shareholders can hold for near target of ₹175 per share and maintain stop loss at ₹140 per share.
results
The company’s net profit in the September quarter has reached Rs 1612 crore. In the same quarter last year, the net profit of IRFC has become Rs 1544 crore. In the first half, Railway PSU has registered an increase in profit from Rs 3095.86 crore to Rs 3189.47 crore on an annual basis. IRFC’s revenue in the September quarter has reached Rs 6898 crore. In the same period of the last financial year, it has become Rs 6761 crore. The total income of Railway PSU has reached Rs 6900 crore. It was Rs 6762 crore in the same period of the last financial year.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.