IRFC: The rising trend in the shares of railway company- Indian Railway Finance Corporation Limited (IRFC) continues. On Friday, the last trading day of the week, the stock closed at Rs 158.05 with a rise of 5.19 percent. This rise in the stock came at a time when the stock market was in selling mode on Friday.
Rise for the 5th consecutive day
Let us inform you that this is the fifth trading day in a row that shares have increased. This week, the stock has gained roughly 12%. At the same time, there has been a rise of around 12% over the past six months and 4% over the past year.
What does the brokerage have to say?
Ravi Singh of Religare Broking told Business Today that the stock appears to be strong on the daily chart. In the near future, it may reach the target price of Rs 200. The brokerage has advised to keep the stop loss at Rs 175. In the meantime, Anand Rathi Shares and Stock Brokers’ Jigar S Patel stated that the stock will encounter resistance at Rs 180 and support at Rs 170. For one month, the expected trading range is between Rs 175 and Rs 200.
Condition of stock market
The stock market experienced a severe crash on the last trading day of the week. BSE’s 30-share index Sensex slipped by 609.28 points or 0.82 percent to 73,730.16 points. At one time during trading, it had fallen by 722.79 points or 0.97 percent to 73,616.65.Additionally, the Nifty lost 150.40 points, or 0.67 percent, to finish at 22,419.95 points.
