IRFC share price jumps 3%: Buy, Sell or Hold this Indian Railways stock? Check make-or-break level

IRFC Share Price NSE: Shares of Indian Railway Finance Corporation (IRFC) surged more than 3 per cent on Monday, December 19.

IRFC Share Price NSE: IRFC has delivered a stellar return of around 69 per cent in the last 6 months. Pic: Pixabay

IRFC Share Price NSE: Shares of Indian Railway Finance Corporation (IRFC) surged more than 3 per cent on Monday, December 19. The Indian Railways stock opened in green at Rs 32.30 apiece on NSE, up nearly 1 per cent from previous close of Rs 32.10. Strong buying in the counter lifted it to hit day's high of Rs 33.25.

Sneha Seth, Zee business panellist and derivatives research analyst at Angel One, said that IRFC witnessed good momentum and good volumes in the past few weeks. Stock is currently in consolidation phase but the overall chart structure is strong. She said that the stock could test the level of Rs 28 in the coming days.

She recommended investors to hold the stock, with a stop loss of Rs 30. She added that there is a strong resistance around Rs 34.50.

IRFC Share Price History

IRFC has delivered a stellar return of around 69 per cent in the last 6 months, resulting in wealth gain for investors. YTD, IRFC has yielded a positive return of 43 per cent. Putting into perspective, IRFC stock which was available for Rs 23.05 apiece on January 3, is now available at around Rs 33.

IRFC made its stock market debut in January 2021 below the IPO issue price of Rs 26. The one-sided rally in IRFC share price last month brought much-needed relief to its investors who were waiting for a trend reversal since its stock market debut.

IRFC Dividend News, Yield

IRFC dividend yield is more than 4 per cent. It has paid dividends on four occasions since its listing, amounting Rs 3.25 per share. IRFC is a wholly owned subsidiary under the Ministry of Railways.

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