Shares of state-run Indian Railways Finance Corporation (IRFC) Ltd. have gained over 50% so far in 2024.

IRFC on Tuesday announced that it will finance up to ₹700 crore under finance lease for 20 BOBR (Bogie Open Bottom Rapid) rakes procured under General-Purpose Wagon Investment Scheme Of Ministry of Railways (GPWIS ) to NTPC.

IRFC also appointed Ajoy Choudhury as Chief Risk Officer (CRO) on fixed tenure basis for two years from the date of assumption of charge as per the recommendations of RMC Committee.

Choudhury is a cost and works accountant with 36 years of post-qualification experience across wide spectrum of areas such as framing Risk policies, Risk Information System, Risk reporting in Operations, Liquidity, Currency & Market & Business risk, Cyber security, Resource raising, Project Accounts, Taxation, MIS, Concurrence, etc.

He has worked in NHPC, Power Grid, REC and retired as Director (Fin) from REC, according to an exchange filing.

These decisions were taken during a board meeting on Tuesday, October 8, 2024.

Shares of IRFC are among the PSU outperformers from last year and that outperformance has spilt over into this year as well. The stock has risen 52% so far this year. Over a 12-month period, the stock has gained 114%.

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Published-October 8, 2024, 6:09:41 PM IST