IRFC SHARES AT 52-WEEK LOW AFTER GOVT STAKE SALE VIA OFS, GIVING AN OPPORTUNITY TO BUY THE STOCK

Shares of

fell to hit a 52-week low after the government announced offloading up to 4% stake in the company through an Offer for Sale (OFS). The government currently holds 86.36% stake in the company, and post the share sale, it's holding will decline to 82.36%. At the floor price of Rs 104 per share, the government is expected to raise around Rs 5,430 crore via this OFS. The stock price has currently touched Relative Strength Index (RSI) of 26, making it highly oversold. This is an opportunity for investors as the stock price is likely to bounce back from these oversold levels.