IRFC Share Price Target 2024: In 2023, Indian Railway Finance Corporation (IRFC) stock delivered a multibagger return. The stock of the public sector has returned 201%. Check out the IRFC Dividend History, IRFC Dividend Yield, and IRFC Share Price History 2023.
IRFC share price target 2024: Should you buy Indian Railways PSU stock after a 200% multibagger return in 2023? Examine the dividend yield and history.
IRFC Share Price Target 2024, IRFC Dividend History
Shares of Indian Railway Finance Corporation, or IRFC, are among the most talked-about Dalal Street 2023 stocks. In fact, IRFC is one of the PSU stocks that has more than doubled investors’ money in 2023 while also paying a handsome dividend. The dividend yield on IRFC is greater than 1.50 percent.
According to BSE analytics, the Indian Railways PSU stock has seen nothing short of a marathon rally this year, owing to the government’s increased focus on revamping the sector.
IRFC Share Price History 2023
According to the BSE website, IRFC shares have risen 32% in just one month. Over a six-month period, the PSU stock returned 201%, resulting in a wealth gain for investors.
IRFC shares have returned 335 percent to investors over the last three years.
IRFC Share Price Target 2024
According to ET NOW Swadesh panelist Astha Jain, IRFC shares will remain in focus in 2024. The stock is likely to rally in the run-up to the Budget.
“The immediate target for IRFC shares is Rs 120-125, implying a 20-25% upside from the current market price,” she said, stating that IRFC is a long-term buy.
IRFC Dividend History
According to the BSE website, IRFC will pay a dividend of Rs 0.80 in November and Rs 0.70 in September in 2023. In 2022, the state-owned company will pay a dividend of Rs 0.80 in November and Rs 0.63 in September.
In 2021, the Indian Railways company paid a dividend of Rs 0.77 in November and Rs 1.05 in February.
IRFC IPO Price Listing
IRFC is Indian Railways’ financing arm. The company plans to go public in 2021. It had issued equity shares in the primary market for Rs 26 each.
IRFC shares debuted on Dalal Street at Rs 24.90, a low price.
IRFC Dividend Yield
IRFC shares have a dividend yield of 1.51% at their current market price of Rs 99. The S&P BSE 200 index includes IRFC. On the BSE, its shares trade in a 52-week range of Rs 104.14 – Rs 25.45. According to the BSE website, the company has a market cap of Rs 1,29,796.40 crore as of December 30.
