IRFC share price: Will bull trend continue in multibagger stock after Q3 results 2024?
Multibagger stock: Shares of Indian Railway Finance Corporation Limited are one of the multibagger stocks that the Indian stock market has delivered in the last one year. At this time, this railway PSU stock has given over 400 percent return to its shareholders. However, IRFC share price has been under sell-off stress after climbing to its lifetime high of ₹192.80 per share on NSE at the end of January 2024.
IRFC shares are expected to remain in focus on Monday as the Indian PSU declared its Q3 results 2024 on Saturday. According to stock market experts, IRFC has demonstrated a stable revenue base with a slight increase in Revenue from Operations on a QoQ basis. They said that in the October to December 2023 quarter, the Indian Railways PSU has managed to maintain consistent profitability as well.
They said that the stock witnessed profit-booking ahead of the quarterly results but the stock may bounce back and go up to ₹180 and ₹200 levels short term. Also Read: Gold price dropped 1.4% last week as US Fed rhetoric remained hawkish Speaking on IRFC results for the third quarter of the current financial year, Parth Shah, Research Analyst at StoxBox said, "The revenue for Indian Railway Finance Corporation Ltd saw a higher single-digit growth on a YoY basis but a mild decline sequentially. The net profit for the company saw a single-digit growth on a sequential basis; however, it saw a decrease when compared to an annual basis.
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