Q1 Results Today: Indian Railway Finance Corporation (IRFC) shares witnessed strong buying in Monday’s deals. Ahead of Q1 results announcement today, IRFC share price opened on NSE with a higher margin of ₹180 per share and touched an intraday high of ₹186.50 per share, registering an intraday gain of 4 per cent in the stock market today .
According to stock market experts, IRFC may need to post promising quarterly figures due to policy paralysis during the April to June 2024 quarter ahead of the Lok Sabha elections. He said that, like any other PSU, IRFC Q1 results 2024 are also expected to be weak on QoQ basis. However, he said the state-owned company is expected to gain momentum from the second quarter of the current financial year as the Government of India (Govt. of India) is in full swing after the installation of the Modi 3.0 government in New Delhi.He said any decline in IRFC’s share price should be viewed as an opportunity for medium to long term investors to reach a lower level.
IRFC Q1 Result 2024 Preview
Expecting weak quarterly results from IRFC, Seema Srivastava, senior equity research analyst at SMC Global Securities, said, “IRFC is expected to deliver weak numbers like any other state-owned company. However, this will not happen due to the weakness in the fundamentals of Indian Railways PSUs.
As the Modi 3.0 government takes charge in New Delhi and is expected to implement its rail infrastructure-oriented projects in full swing, we expect improvement in the quarterly figures from IRFC in the coming quarters.”
