IRFC Shares Hit Record High After Large Trade

Shares of Indian Railway Finance Corporation Ltd. jumped the most since Nov. 16 and hit a record high on Thursday after multiple large trades.

At least 62.2 lakh shares changed hands in at least four large trades, according to Bloomberg data.

The stocks surged 8.38% to hit a record high of Rs 31.7 apiece. The total traded quantity is 6.6 times the 30-day average. The relative strength index is 91, suggesting that the stock might be overbought.

At 12:40 p.m., shares of the company gained 7.01% to Rs 31.30 apiece as of 12:40 p.m., while the benchmark Nifty 50 gained 0.64% on the NSE.