Shares of IRFC are trading with gains of close to 19 percent on Monday. The stock is seeing its biggest single-day surge since it went public in early 2021.

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With today's surge, IRFC's market capitalisation has surged past Rs 90,000 crore, currently at Rs 95,000 crore. At current levels, the stock is more valuable than other railway majors like IRCTC and Container Corporation of India (CONCOR).

Here's how these companies are currently placed in terms of market capitalisation:

IRFC had listed in January 2021 at a market capitalisation of Rs 32,000 crore. The stock barely moved in the first two years of listing and still remained at Rs 26, which also happens to be its IPO price, as of March 31 this year. As of March, it still ranked behind IRCTC and Container Corporation in terms of market capitalisation.

Since March, the stock has surged nearly 2.5 times, leading to this surge in market capitalisation. The stock took nearly 450 trading sessions to go from its listing-day market capitalisation to Rs 40,000 crore.

However, over the last 20 trading sessions, the stock has crossed Rs 60,000 crore, Rs 70,000 crore and even Rs 80,000 crore in market capitalisation. In fact, it had crossed Rs 70,000 crore in market capitalisation for the first time only on Friday, September 1.

As of the June quarter shareholding pattern, the government holds over 86 percent stake in the company, which at current levels, would be valued at well over Rs 80,000 crore.

Despite the surge seen in stock price, the stock does not have analyst coverage, nor does any major mutual fund have a stake greater than 1 percent.

Shares of IRFC are currently trading 7 percent higher at Rs 71.40.

First Published:Sept 4, 2023 12:19 PM IST