Introduction:
Leading financial institution has emerged as the lowest bidder for a ₹3,167 crore loan to support the development of the Banhardih Coal Block in Jharkhand. This project, aimed at enhancing energy infrastructure, is led by a joint venture with NTPC Limited.
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Share price movement of IRFC:
On January 15, 2025, Indian Railway Finance Corporation Ltd (IRFC) opened at ₹140.35, up 3.60% from its previous close of ₹135.75. The stock reached a high of ₹140.65 and a low of ₹135.55. As of 12:06 PM, it traded at ₹137.35, a 1.18% increase, with a market cap of ₹1,79,561.27 crore.
IRFC Wins Bid for Banhardih Project:
Indian Railway Finance Corporation (IRFC) has emerged as the lowest bidder (L1) in securing a ₹3,167 crore loan for the development of the Banhardih Coal Block in Jharkhand. The project is being led by Patratu Vidyut Utpadan Nigam Limited (PVUNL).
PVUNL, a joint venture between NTPC Limited (74%) and Jharkhand Bijli Vitran Nigam Limited (26%), has been allocated the Banhardih Coal Block as a captive source for coal. The coal will be transported via Mine-Gain-Rail (MGR) to the Chetar Station and project site.
The proposal is subject to due diligence and final approval from IRFC’s Board of Directors, along with the finalization of terms with PVUNL. This development will further support the energy infrastructure in Jharkhand.
Recent news on IRFC:
As of January 2, 2025, Indian Railway Finance Corporation Ltd. (IRFC) signed an MoU with Railway Energy Management Company Ltd. (REMCL) to finance renewable energy projects for Indian Railways, supporting its goal of net-zero carbon emissions by 2030.
Stock performance of IRFC for Period of 1 week, 6 months and 1 year:
Indian Railway Finance Corporation Ltd. has experienced a decline in its stock performance, with a 5.72% drop over the past week, a 34.1% decrease over six months, and a 4.44% decline over the past year.
Shareholding pattern of IRFC:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 86.40% | 86.40% | 86% |
| FII | 1.10% | 1.10% | 1.10% |
| DII | 1.10% | 1.10% | 0.90% |
| Public | 12% | 12% | 11.70% |
About IRFC:
Indian Railway Finance Corporation Ltd (NSE: IRFC) was incorporated in 1986 and serves as the funding arm of Indian Railways, mobilizing funds from domestic and international markets to finance railway asset acquisition and creation.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
