Indian Railway Finance Corp Ltd (IRFC) was once one of the most popular and well-performing stocks. The asset has since witnessed a substantial price correction. The stock is down 2.83% on Friday morning, trading at Rs. 116.95 at press time.
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Indian Stock Market Tumbles Amid Global Tariff War
The stock market has gradually dipped over the last few months. The Indian stock market took a beating today, with Sensex falling more than 1,000 points. IRFC’s latest correction comes after the US announced a 25% tariff on the European Union. Earlier this week, the US said it would move ahead with its tariffs against Canada and Mexico. The development has sent shockwaves across the board. IRFC has taken a massive hit amid a larger market correction.
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The low prices could be a good entry point for new investors. Let’s discuss if IRFC’s price will recover over the coming days.
Should You Buy The IRFC Dip?
The IRFC stock has taken a substantial beating over the last few months. The asset was performing poorly even before the latest market crash. Railway stocks in general took a beating over the last few months. Low investor sentiment and high valuations could be notable factors.
According to technical analyst Prakash Gaba, investors should hold on to IRFC for the long term. The asset could prove to be lucrative over the coming years. Low prices could help bring down the average buying cost for older holders.
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IRFC could see a resurgence when the market recovers. If the US resolves its trade issues with the EU, Canada, and Mexico, investor sentiment could rise. Such a development could lead to a market-wide rally. How things unfold over the coming weeks is yet to be seen.