Wed Oct 09 05:03:17 UTC 2024: ## IRFC Shares Surge on NTPC Financing Deal & New Risk Officer Appointment
**Mumbai, India** – Shares of Indian Railway Finance Corporation Ltd (IRFC) rallied today, closing 5.16% higher at Rs 151.80, after the company announced a significant financing deal and a key appointment.
The IRFC board approved financing of up to Rs 700 crore under a finance lease for 20 BOBR rakes procured by NTPC under the General-Purpose Wagon Investment Scheme (GPWIS) of the Ministry of Railways. This move underscores IRFC’s role in supporting the Indian Railways’ infrastructure development.
Furthermore, the board appointed Ajoy Choudhury as Chief Risk Officer for a fixed tenure of two years. This appointment signals the company’s commitment to strengthening its risk management framework.
IRFC’s stock has been on a winning streak, gaining 102.91% in the past year and 51.24% in the current year. The stock’s strong performance reflects investor confidence in IRFC’s growth prospects and its crucial role in financing Indian Railways’ expansion.
IRFC, a financial arm of the Indian Railways, sources funds from the market to finance asset acquisition and lease them to the Indian Railways or entities under the Ministry of Railways.
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