IRFC shares hit upper circuit; other railway stocks also rise
Shares of IRFC- the financing arm of Indian railways hit upper circuit gaining 11.15 points on 4th September 2023 during intraday trade. The market cap of this company crossed 86,000 crore rupees during trade today. IRFC shares were listed on stock exchange on January 29, 2021 at Rs 24.80 per share.
The fast trend in its shares is visible regarding the dividend. The company had given information about the final dividend for the financial year 2022-23 in the exchange filing on 23 August. The company is distributing a dividend of 70 paise per share and it was announced on 25 May. Now the company has announced its record date and it is 15 September. Apart from this, its shares are getting support from some other corporate activities.
This multibagger railway stock bags another big order
Rail Vikas Nigam Ltd (RVNL) is one of the companies which has given excellent returns to investors since its listing. Positional investors of the company have made gains of more than 100 percent during the last 6 months. Now the company has got work worth more than Rs 3 billion. In the information given to the stock exchanges on September 2, 2023, Rail Vikas Nigam said that a work order worth Rs 322 crores has been received from Madhya Gujarat Vij Company Limited. This railway company has to complete the work within 31 months.
