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IRFC To Finance ₹700 Crore For NTPC Wagon Procurement

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Synopsis:

IRFC will finance up to ₹700 crore for NTPC's procurement of 20 BOBR rakes under the General-Purpose Wagon Investment Scheme. The stock has risen over 50% in 2024.

IRFC news today

Indian Railways Finance Corporation (IRFC) has announced that it will finance up to ₹700 crore under a finance lease arrangement for the procurement of 20 Bogie Open Bottom Rapid (BOBR) rakes by NTPC. These rakes are being procured under the General-Purpose Wagon Investment Scheme (GPWIS) of the Ministry of Railways, which aims to enhance the capacity of the rail network for freight transportation.

INDIAN RAILWAY FIN CORP L

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164.9-0.01 (0.00 %)

Updated - 12 December 2024
164.90day high
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164.90day low
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86849772
VOLUME (BSE)

Investment in freight infrastructure

The General-Purpose Wagon Investment Scheme (GPWIS) is a strategic initiative by the Ministry of Railways designed to encourage investment in the country’s freight infrastructure. The BOBR rakes, known for their rapid loading and unloading capabilities, will facilitate efficient coal transport for NTPC’s operations, contributing to the country’s growing energy needs.

IRFC’s role in financing this procurement will support the expansion of freight capacity, reinforcing the financial institution’s key role in the development of Indian Railways’ infrastructure. The ₹700 crore finance lease deal is a part of IRFC's broader efforts to bolster rail-based transportation and facilitate cost-efficient logistics solutions.

IRFC’s financial performance in 2024

In 2024, IRFC has experienced substantial growth, with its stock gaining over 50% so far. The company's shares have been among the top performers in the public sector unit (PSU) space, with an overall 12-month increase of 114%. This strong performance reflects investor confidence in IRFC’s strategic decisions and its ability to consistently support the Indian Railways.

Furthermore, IRFC’s continued involvement in large-scale projects like the GPWIS aligns with its growth trajectory. The financing of NTPC’s BOBR rakes will contribute to the company’s portfolio of high-value leases, positioning it as a key financial player in the nation’s infrastructure development.

IRFC’s financing of ₹700 crore for NTPC under the GPWIS marks another milestone in the company’s strategic investments in rail infrastructure. The ongoing expansion of freight capacity is likely to sustain the positive momentum of the IRFC share price, as the company strengthens its role in Indian Railways’ growth.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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