IRFC share price
Here are the reasons why the IRFC share price increased by 20% and reached a new one-year high: The stock soared 20% Thursday, reaching a new 52-week high of Rs. 66.78. The multibagger stock has increased 202.17 percent in a year and 102.98% year-to-date (YTD).
SUMMARY
The 14-day relative strength index (RSI) for the counter was 89.41.
Oversold is defined as a value below 30, and overbought as a value beyond 70.
The price-to-equity (P/E) ratio of the company's stock is 11.67, while the price-to-book (P/B) ratio is 1.60.
For the sixth session in a row, Indian Railway Finance Corporation Ltd. (IRFC Ltd.) stock prices rose on Monday.
The stock soared 20% Thursday, reaching a new 52-week high of Rs. 66.78. On the BSE, it ultimately closed 19.78% higher at Rs. 66.66. The multibagger stock has increased 201.63 percent in a year and 102.61% year-to-date (YTD).
According to market expert Ravi Singh, "Railway stocks are in an uptrend after the Ministry of Railways requested Cabinet approval for a Rs 5.25 lakh crore investment program during 2024–2031)."
According to the technical setup, IRFC is displaying strength on the daily and weekly charts, and the momentum indicators point to an impending strong move with a target price of Rs 80.
"On the daily charts, the IRFC stock price is overbought, with the next resistance at Rs. 70.65. Investors should take profits now because a closing below the support level of Rs. 61.5 could result in a target price of Rs. 48.85 in the near future, according to Tips2trades' AR Ramachandran.
"The counter continues to show strength. It is poised to quickly reach three digits after a breach over Rs 50. Every decline presents a buying opportunity with a target price of Rs. 101, advised Vaibhav Kaushik, a research analyst at GCL Broking.
"The stock has shown a remarkable surge in the last two sessions, gaining about 35%, and the next objective is apparent near the level of Rs 72.
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