IFCI Shares Surge 5% to Hit Upper Circuit, Records Remarkable 1100% Growth in Four Years

In today’s stock market session, the share price of IFCI has continued its upward trajectory, marking a significant milestone in its post-COVID rally. Over the past four years, this PSU stock has surged from ₹3.50 to ₹40.70 per share on the NSE, showcasing substantial growth. Today, IFCI shares opened on a positive note and swiftly reached an intraday high of ₹40.70 per share on the NSE, triggering a 5 percent intraday rise and hitting the upper circuit within minutes of the market opening.

IFCI’s Share Price Performance:

Despite facing selling pressure in the PSU segment over the past month, IFCI has demonstrated resilience, delivering over 40 percent returns to its shareholders year-to-date. In the last six months, the stock has surged from around ₹24 to ₹40.70 per share, marking a rise of approximately 70 percent. Over the course of one year, IFCI’s share price has soared from approximately ₹9 to ₹40.70 per share, reflecting a staggering 350 percent rally. Notably, the stock has transformed from a penny stock to a multibagger penny stock within the past year, showcasing its remarkable growth trajectory.

IFCI’s Future Outlook:

Analysts remain optimistic about the future prospects of IFCI shares, with Sumeet Bagadia, Executive Director at Choice Broking, highlighting a strong base at ₹37 per share. Bagadia advises existing shareholders to hold onto their investments, suggesting a potential upside target of ₹50 per share in the short term, contingent upon breaching the current hurdle at ₹45 per share. For new investors, Bagadia recommends buying IFCI shares at the current level, maintaining a strict stop loss at ₹37 per share. He further advises adopting a buy-on-dips strategy and holding the stock for short-term targets of ₹45 and ₹50 per share.

IFCI’s impressive performance underscores its resilience and potential for further growth in the coming period.