IRFC hits 52-week high; jumps over 12% in four days

24 Nov 2022 , 01:40 PM

Shares of IRFC have surged 12.16% in four consecutive sessions. On the BSE, 180.87 lakh shares were traded in the counter so far compared with average daily volumes of 122.43 lakh shares in the past two weeks. The stock hit a 52-week high of Rs 31.65 today, 24 November 2022. The stock hit a 52-week low of Rs 19.30 on 20 June 2022. The stock had outperformed the market over the past one month, soaring 43.06% compared with 3.44% rise in the Sensex. The scrip outperformed the market in past one quarter, climbing 46.79% as against Sensexs 4.74% rise. The scrip had also outperformed the market in past one year, rising 30.11% as against Sensexs 6.08% rise. On the technical front, the stocks daily RSI (relative strength index) stood at 90.73. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 23.08, 22.03 and 21.85 respectively. IRFC is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets. The Government of India held 86.36% stake in the company as on 30 September 2022. The company reported 14.2% rise in net profit to Rs 1,714.28 crore on a 23.9% increase in net sales to Rs 5,810.39 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News