IRFC shares rally 4% after securing Navratna status from Indian government

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Shares of Indian Railway Finance Corporation (IRFC) surged as much as 3.7% on Tuesday to Rs 115.25 on the BSE after the Government of India granted the company a Navratna status, enhancing its financial and operational autonomy.

The Department of Public Enterprises announced on Monday that IRFC and Indian Railway Catering and Tourism Corporation (IRCTC) have been accorded Navratna status, expanding the list of such Central Public Sector Enterprises (CPSEs) to 26. IRCTC shares also gained on Tuesday, rising as much as 0.7% to Rs 680.7 on the BSE.


Navratna status empowers CPSEs with enhanced decision-making freedom, enabling them to undertake higher-value investments and strategic expansions without requiring prior government approval.

IRFC, which operates under the Ministry of Railways, reported an annual turnover of Rs 26,644 crore and a profit after tax of Rs 6,412 crore for FY 2023-24, with a net worth of Rs 49,178 crore, according to government data. The company’s stock is down 35.5% over the last six months, 15.9% in the past month, and 6.8% in the past week.


The railway financier also figures among stocks where the government could potentially divest its holdings to comply with the Minimum Public Shareholding (MPS) norms. As of the end of the December quarter, the government held an 86.36% stake in IRFC.

Additionally, IRFC is a relatively new entrant in the Futures & Options (F&O) segment, however, it lacks broad analyst coverage, with only one analyst actively tracking it.With the latest Navratna upgrades, IRFC and IRCTC join a league of well-established CPSEs such as Bharat Electronics Limited, Engineers India Limited, NMDC Limited, and ONGC Videsh Ltd. Also Read: Stocks in news: Paytm, RBL Bank, REC, ASK Automotive, Intellect Design

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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