Shares of Indian Railway Finance Corporation (IRFC) Ltd., the state-run railway financier, are trading with gains for the fifth day in a row on Monday, January 20, ahead of its December quarter results, which are to be reported later in the day.
The stock has recovered 15% during this five-day losing streak.
As of closing last Monday, the stock had declined 40% from its record high levels of ₹229.
The railway PSU also released its shareholding pattern for the December quarter, which has nearly remained constant from the September quarter.
The government continues to remain a majority shareholder in IRFC, holding an 86.36% stake.
IRFC now has nearly 55 lakh retail shareholders, or those, who have authorised share capital of less than ₹2 lakh. The number was nearly similar as of the September quarter as well.
Mutual Funds own a 0.24% stake in IRFC, while FPIs have a 1% stake. Retail owns a 9.63% stake, from 9.23% they owned in September.
The stock has been in the news through last week as well. The company had signed a leasing pact with NTPC last Wednesday for eight BOBR rakes worth ₹250 crore.
IRFC had also emerged as the lowest (L1) bidder to finance ₹3,167 crore for a coal mine in Jharkhand on Tuesday.
Shares of IRFC are currently trading 0.9% higher ahead of its results announcement at ₹147.5. The stock is down 8% over the last 12 months.
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