Page 5 - Irfc

IRFC marches to new high; stock zooms 38% in a week on stable outlook

The company will continue to receive timely funding from the government through favourable lease agreement, owing to its strategic role as a dedicated funding arm of Indian Railways

RITES, IRFC sign pact to work in transport infrastructure sector

Engineering firm RITES on Thursday said it has signed a pact with the Indian Railway Finance Corporation (IRFC) to explore possibilities of collaborating in the railway eco-system and transport infrastructure sector. In a statement, RITES said it will offer consultancy and advisory services and assist in ascertaining the financial & technical viability of projects, while IRFC will provide financial services to projects/ institutions that have got backwards and forward linkages with the Railways. "RITES Ltd signs a memorandum of understanding (MoU) with Indian Railway Finance Corporation (IRFC) to explore avenues of mutual collaboration in the railway eco-system and the transport infrastructure sector," it said. RITES Ltd Chief Strategy Officer Manobendra Ghoshal said RITES' consultancy prowess and IRFC's financial expertise will stimulate mega and critical projects and drive sustainable growth in the transport infrastructure sector. The strategic partnership, through knowledge ...

IRFC Q4 results: Profit falls 11% to Rs 1,328 crore, revenue up 5%

The company's consolidated revenue from operation rose by 5.14 per cent to Rs 6,236 crore for the March quarter

Stocks to Watch: IRFC, Airtel, Jubilant Food, Delhivery, CBI, KP Energy

Stocks to Watch Today: Dabur India promoters, the Burman family, sold 1 per cent stake in the company through a block deal on Tuesday.

Govt likely to sell 11% stake in IRFC by FY24 as part of disinvestment plan

Senior officials say govt plans to bring own shareholding down to 75%;

Rail stocks may chug along till budget; book profit selectively: Analysts

Railway stocks: In the upcoming budget, the railways has reportedly sought gross budgetary support (GBS) of Rs 1.5-1.8 trillion over the Rs 1.37 trillion figure earmarked during Budget 2022-23

Indian Railway Finance Corporation Q2 profit surges 14% to Rs 1,714 crore

Indian Railway Finance Corporation (IRFC) on Thursday reported a 14 per cent increase in its profit at Rs 1,714 crore in the second quarter ended September 30, 2022. The company, which is the dedicated market borrowing arm of the Indian Railways, had earned a profit of Rs 1,501 crore in the same quarter of previous year. The revenue from operations for Q2 FY23 also grew by 23.88 per cent to Rs 5,810 crore as against Rs 4,690 crore reported in the same period of last year, IRFC said in a statement. Net worth stood at Rs 43,549 crore and Assets Under Management (AUM) at Rs 4,39,070 crore as on September 30, 2022, it said. The board of the company also approved an interim dividend of 8 per cent of face value of Rs 10 each, that is Rs 0.80 per share for 2022-23, it said. The cumulative funding to the Indian railway sector by IRFC has crossed Rs 5.05 lakh crore mark by the end of the Q2 FY23.

Govt gets Rs 952 cr dividend from IRFC, NALCO, Concor: DIPAM secy

The government has received Rs 952 crore as dividend from three public sector companies, DIPAM Secretary Tuhin Kanta Pandey said on Friday. With this, the total dividend receipts of the government from CPSEs so far this fiscal stands at Rs 16,728 crore. "Government has respectively received about Rs 711 crore, Rs 141 crore and Rs 100 crore from IRFC, NALCO, and CONCOR as dividend tranches," Pandey tweeted.

IRFC profits nearly doubled under outgoing CMD Amitabh Banerjee

Banerjee joined IRFC in 2019 after serving as the director of finance at Konkan Railways

IRFC garners $500 mn through green offshore bonds; lists bonds at GIFT City

The bonds issuance is part of the USD 7 billion Global Medium Term Note (GMTN) Programme, IRFC said

IRFC looking to diversify revenue streams, says CMD Amitabh Banerjee

IRFC is set to expand its wings with its plans of diversification and in line with the govt mandate, it can finance non-railway projects that have got a backward and/or a forward linkage with Railways

Record disbursal, cheaper fund cost buoy IRFC net by 126% to Rs 1,482 cr

IRFC has reported a 126 per cent jump in net income to record Rs 1,482.55 crore in the March quarter, mainly due to higher interest income from record disbursals and cheaper funds.

IRFC posts 126% jump in fourth quarter net profit at Rs 1,483 crore

This compares to Rs 655 crore reported in the same period of previous fiscal.

IRFC, UTI AMC likely to get added in FTSE indices during rebalancing

China-based Fosun Pharma-led Gland Pharma also meets the qualification criteria, but limited room for overseas investment could spoil its chances

Cabinet clears Bill on setting up DFI with capital infusion of Rs 20,000 cr

Initially the new institution would be government-owned, with its stake being cut gradually to 26%, says Finance Minister Nirmala Sitharaman

Fitch, S&P rate IRFC's proposed USD senior unsecured notes at BBB-minus

Fitch Ratings has assigned Indian Railway Finance Corporation's (IRFC's) proposed US dollar Regulation senior unsecured notes a rating of BBB-minus.The proposed notes will be issued under IRFC's existing four billion dollars global medium-term note programme.The net proceeds from proposed notes will be used for funding acquisition of rail assets which IRFC will lease to Indian Railways, and to meet debt-financing requirements of various entities in the railway sector.Fitch said the proposed notes are rated in line with IRFC's issuer default rating on the basis that the notes issued under the programme will constitute direct, unconditional and unsecured obligations of IRFC and rank pari passu (on equal footing) with all its other present and future outstanding unsecured and unsubordinated obligations.Meanwhile, S & P Global also assigned BBB-minus rating to long-term foreign currency issue rating to IRFC's proposed benchmark size senior unsecured US dollar notes.

RaiTel shares soar 28% on debut to end a tad over Rs 120 in a tepid market

The stock touched a high of Rs 128 and a low of Rs 101 on the NSE, where over Rs 1,500 crore worth of shares changed hands

We've had no NPAs, plan to keep it that way: Amitabh Banerjee, CMD, IRFC

In a Q&A, Banerjee says the company is unlikely to change its model of leasing to Indian Railways, but is open to financing private projects that have forward or backward linkages with railways

Stocks to watch: Stove Kraft, Hero Moto, Britannia, M&M, Biocon, Tata Power

IRFC has sold $750 million worth of dollar-denominated bonds to overseas investors priced at a coupon of just 2.80 per cent per annum

IRFC mops up $750 million in maiden bond sale after initial public offering

IRFC had a bumper IPO last month