IRFC shares fall 2%; PSU signs Rs 4,200 crore term loan agreement with DVC
IRFC said the transaction marks an expansion of its long-term financing capabilities into the clean energy ecosystem while remaining connected to the broader railway ecosystem.
- Sep 29, 2026,
- Updated Sep 29, 2026 10:41 AM IST
Indian Railway Finance Corporation Ltd (IRFC) shares fell 2% in Tuesday's trade even as the Navratna CPSE signed a Rs 4,200 crore term loan agreement with Damodar Valley Corporation (DVC) to finance renewable energy projects in Jharkhand and West Bengal.
The financing will support DVC's renewable energy portfolio, including floating solar, ground-mounted solar and rooftop solar projects, as well as Battery Energy Storage System (BESS) initiatives. The projects will leverage DVC's existing land, reservoirs and transmission infrastructure.
IRFC shares fell 1.85% in Tuesday's trade, touching a low of Rs 77.10, compared with the previous close of Rs 78.55. The stock opened at Rs 78.58 and touched a high of Rs 79 during the session. The stock is down 37.55% so far in 2026 and 36.79% over the past year.
The agreement was signed in New Delhi in the presence of senior officials from both organisations, including Manish Kumar, Member (Finance), DVC, and Manoj Kumar Dubey, Chairman and Managing Director of IRFC.
IRFC said the transaction marks an expansion of its long-term financing capabilities into the clean energy ecosystem while remaining connected to the broader railway ecosystem. The company sees the financing as part of its calibrated diversification into strategic infrastructure segments linked to its core business.
Commenting on the agreement, Dubey said, "Renewable energy is no longer peripheral to the Railways; it is at the core of Indian Railways' journey towards Net Zero Carbon Emissions by 2030."
He added that the Rs 4,200 crore financing demonstrates IRFC's ability to extend its long-term financing capabilities to clean energy infrastructure supporting India's future energy needs.
The company said the transaction would also support DVC's renewable energy initiatives while contributing to the wider transition towards a more sustainable energy ecosystem. The projects cover multiple renewable-energy formats, including floating and ground-mounted solar, rooftop solar and energy-storage infrastructure.
According to IRFC, the deal represents another step in its strategy of expanding beyond traditional railway financing into infrastructure segments that complement its core mandate. The company said its established expertise in providing long-term financing can be extended to sectors supporting the Railways' evolving energy requirements.
Indian Railway Finance Corporation Ltd (IRFC) shares fell 2% in Tuesday's trade even as the Navratna CPSE signed a Rs 4,200 crore term loan agreement with Damodar Valley Corporation (DVC) to finance renewable energy projects in Jharkhand and West Bengal.
The financing will support DVC's renewable energy portfolio, including floating solar, ground-mounted solar and rooftop solar projects, as well as Battery Energy Storage System (BESS) initiatives. The projects will leverage DVC's existing land, reservoirs and transmission infrastructure.
IRFC shares fell 1.85% in Tuesday's trade, touching a low of Rs 77.10, compared with the previous close of Rs 78.55. The stock opened at Rs 78.58 and touched a high of Rs 79 during the session. The stock is down 37.55% so far in 2026 and 36.79% over the past year.
The agreement was signed in New Delhi in the presence of senior officials from both organisations, including Manish Kumar, Member (Finance), DVC, and Manoj Kumar Dubey, Chairman and Managing Director of IRFC.
IRFC said the transaction marks an expansion of its long-term financing capabilities into the clean energy ecosystem while remaining connected to the broader railway ecosystem. The company sees the financing as part of its calibrated diversification into strategic infrastructure segments linked to its core business.
Commenting on the agreement, Dubey said, "Renewable energy is no longer peripheral to the Railways; it is at the core of Indian Railways' journey towards Net Zero Carbon Emissions by 2030."
He added that the Rs 4,200 crore financing demonstrates IRFC's ability to extend its long-term financing capabilities to clean energy infrastructure supporting India's future energy needs.
The company said the transaction would also support DVC's renewable energy initiatives while contributing to the wider transition towards a more sustainable energy ecosystem. The projects cover multiple renewable-energy formats, including floating and ground-mounted solar, rooftop solar and energy-storage infrastructure.
According to IRFC, the deal represents another step in its strategy of expanding beyond traditional railway financing into infrastructure segments that complement its core mandate. The company said its established expertise in providing long-term financing can be extended to sectors supporting the Railways' evolving energy requirements.