Shares of IRFC surge by 20%, reaching a 52-week peak of Rs 66.78.

The reason behind the surge 

"Railway stocks are in the upward trend after the Ministry of Railways sought Cabinet approval for a Rs 5.25 lakh crore investment program during 2024-2031," ---market expert Ravi Singh.

Investors take on the surge

IRFC stock is overbought on daily charts with resistance at Rs 70.65. Investors should book profits as a close below support of Rs 61.5 could lead to target of Rs 48.85. --- AR Ramachandran

Counter showing strength, ready to become three-digit stock soon after breakout above Rs 50. Stop loss at Rs 49, every dip is buying opportunity for target price of 101. ---- Vaibhav Kaushik.

 

Future Prediction

Here are some of the analysts' target prices for IRFC share price in 2023:

--Angel Broking: Rs. 70 --ICICI Securities: Rs. 68 --Edelweiss Securities: Rs. 65 --Motilal Oswal Financial Services: Rs. 63