The board of directors of Indian Railway Finance Corporation Ltd. or IRFC, approved to finance 20 rakes for NTPC Ltd. at Rs 700 crore.
The 20 rakes were procured under the general-purpose wagon investment scheme under the Ministry of Railways, according to an exchange filing on Tuesday. The company also appointed Ajoy Choudhury as the chief risk officer for a period of two years on the recommendation of the RMC Committee.
Ajoy Choudhury is a cost and works accountant with 36 years of experience in areas such as framing risk policies, risk information systems, and risk reporting in operations, among others.
IRFC is the financial arm of Indian Railways to raise funds from both domestic and foreign capital markets and help Indian Railways fulfil its extra budget resources.
IRFC Q1 Performance
IRFC reported a net profit of Rs 1,576.83 crore, indicating a 1.64% rise for the three months ended June of the financial year 2025 as compared to the Rs 1,551.27 crore in the same period last year.
The public sector company posted a 1.37% surge in revenue at Rs 6,765.63 crore for the first quarter of fiscal 2025 as against Rs 6,673.87 crore in the same quarter of the previous financial year.
Railway Stocks Performance On Oct. 7
On Monday, railway stocks fell more than 8% and shares of IRFC, RailTel, and IRCTC witnessed a major dip.
IRFC fell 5.08% at Rs 144.35 apiece on the National Stock Exchange, while the shares of RVNL dropped 8.45% at Rs 451.70 per share and RailTel declined by 8.60% at Rs 394.75 apiece.
Shares of IRFC closed 7.47% higher at Rs 151.82 apiece, compared to a 0.88% rise in the benchmark NSE Nifty.
The stock has risen 113.38% in the last 12 months and 52.81% year-to-date. The relative strength index was 36.85.
One analyst tracking the company recommends a "hold," according to Bloomberg data.
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