Indian Railway Finance Corporation (IRFC) has witnessed a phenomenal rise in its share price, propelling its market capitalization to an astounding Rs 95,000 crore. This surge has placed IRFC ahead of major railway players like IRCTC and Container Corporation of India (CONCOR).
To put this into perspective, when IRFC made its stock market debut in January 2021, its market capitalization was a modest Rs 32,000 crore. For the first two years, the stock remained stagnant, hovering around its IPO price of Rs 26 as of March 31 this year. During this time, it lagged behind both IRCTC and Container Corporation in terms of market capitalization.
However, a dramatic turnaround occurred in March, when the stock began its meteoric rise. In just 20 trading sessions, it surpassed the Rs 60,000 crore, Rs 70,000 crore, and even Rs 80,000 crore marks in market capitalization. Impressively, it achieved the Rs 70,000 crore milestone for the first time on September 1.
As of the June quarter shareholding pattern, the government maintains a commanding 86 percent stake in IRFC. At current market values, this stake is valued at well over Rs 80,000 crore.
Despite this remarkable surge, IRFC has yet to attract analyst coverage, and no major mutual fund holds a stake greater than 1 percent in the company.
Currently, shares of IRFC are trading 7 percent higher at Rs 71.40, further reinforcing its outstanding performance in the market.