Shares of Indian Railway Finance Corporation Ltd (IRFC) continued their significant gains in Monday’s trading session, reaching a new one-year high of Rs 134.70. The stock surged by 18.80%, marking an impressive 300% increase over the past year, making it a multibagger. Analysts suggest that the stock may see further gains in the short term, with support levels around Rs 120-115. On the upside, it could climb to Rs 164. However, some analysts recommend booking profits at current levels. With the stock in uncharted territory, technical analysis becomes important, and regular profit-taking is advised. The strong performance is attributed to the anticipation of a record high budget allocation for the railway sector, leading to gains in various railway-related stocks. IRFC observed substantial trading volumes, reaching 3.15 crore shares on BSE, well above the two-week average volume, with a turnover of Rs 403.59 crore, contributing to a market capitalization of Rs 1,70,883.78 crore.