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IRFC Share Price, IRFC Share Price Target: Shares of PSU firm Indian Railway Finance Corporation (IRFC) moved higher on Wednesday after the company signed a term loan agreement worth about Rs 200 crore with Surat Integrated Transportation Development Corporation Ltd (SITCO), aimed at funding the development of the country’s first multi-modal transport hub in Surat.

On Wednesday, the PSU stock jumped as much as nearly 1 per cent to Rs 127.75 apiece on BSE, compared with the previous close of Rs 126.80. The move comes after a period of weakness in the counter:

According to the Navratna firm, it has sanctioned and executed agreements for the loan facility with SITCO. 

SITCO--a joint venture of the Ministry of Railways and the Government of Gujarat --is developing India’s first international-standard Multi-Modal Transport Hub (MMTH) at Surat. The hub will integrate rail, metro, BRTS, city and regional buses, autos, and taxis, while upgrading station infrastructure and passenger amenities.

IRFC said its financing support would strengthen the project’s financial viability, ensure long-term sustainability, and contribute to regional economic growth by enhancing India’s transport infrastructure capacity.

IRFC Chairman and Managing Director said, "Our support for the construction of SITCO’s landmark Surat MMTH project reflects our commitment to providing competitive financing solutions while developing railway-linked infrastructure that powers India’s logistics, strengthens urban mobility, and contributes to the nation-building journey."

An analyst at Zee Business has recommended buying IRFC as an investment, with a target price of Rs 138 and a stop loss at Rs 122.Over longer horizons, IRFC has delivered a mixed performance for investors:

(Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.)

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