Some material developments may happen in IRFC in next six months. No borrowing target set for IRFC for 23-24 in budget and for 22-23 the target got revised from 66,500 crore to ~48,000 crores.
This seems strange. IRFC has almost approached 10X. For fresh borrowings it will have to either increase the leverage limit or raise equity. To me it seems like increasing the leverage limit of 10X is not going well with either regulator, lender or rating agency. There would be lot of noise in the stock in next six-nine months so fasten your seat belt for roller coaster ride.
The above will not alter the long term prospect of IRFC though.
Disc. Invested.
Budget 2023-24: Railways gets record Rs 2.6-trillion capex boost | Business Standard News.
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