Indian Railway Finance Corp up on Q4 profit rise

Indian Railway Finance

21/05/2024 06:03

** Shares of Indian Railway Finance Corporation  INID.NS  up as
much as 4.5% to 181 rupees; last up 3.6% 
    ** The financing arm of the Indian Railways on Monday
reported a 33.6% Y/Y rise in its March-qtr profit to 17.17 bln
rupees ($206.1 mln)
    ** Interest income rose 7.1% Y/Y to 21.41 bln rupees
    ** Co also approved raising up to 500 bln rupees in
resources for FY 24-25 from both domestic and international
markets
    ** INID on track for a fourth straight session of gains, if
trend holds
    ** More than 73 mln shares traded by 10:31 a.m. IST, 1.6x
its 30-day avg
    ** Including session's gain, stock is up 80% YTD


($1 = 83.3100 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))