Stock below Rs 40: Shares of this PSU company zooms 5 per cent to touch lifetime high

From Rs 19.30 per share to Rs 37.37, this stock gave over 93 per cent in less than 1 year.

On Thursday, Indian Railway Finance Corporation Ltd (IRFC), shares of the Indian Railways PSU touched an upper circuit of Rs 37.37. The Indian state-owned railway firms continue to ride high on the stock markets, with their winning streak surpassing all records.  

The stock opened at Rs 36.05 and later touched a fresh all-time 52-week-high of Rs 37.37 on NSE. The optimism among the investors stems from the government’s plan to increase spending on railway infrastructure, which has been boosting the sector’s outlook.  

The finance minister’s announcement of a record Rs 2.4 lakh crore capital expenditure for the Indian railways in this year’s budget has further fueled the sector’s growth. This amount is 71 per cent higher than the last year’s budget, indicating the government’s commitment to improving the railway infrastructure in India.  

IRFC is presently trading at Rs 35.89 on the BSE, up 0.44 points or 1.24 per cent from its previous close of Rs 35.45. From Rs 19.30 per share to Rs 37.37, this stock gave over 93 per cent in less than 1 year.  

IRFC is Large-Cap stock and a part of the S&P BSE 200 index. Keep this stock on your radar in the upcoming session.