Shares of the Indian Railway Finance Corporation (IRFC), a state-owned non-banking financial company, increased by 2.94% to reach an intraday high of ₹101.08 after announcing a significant refinancing deal with L&T Metro Rail (Hyderabad). The ₹13,527 crore term loan agreement aims to refinance the debt obligations associated with the Hyderabad Metro Rail project, which spans 69.2 km and includes 57 stations, making it one of the largest public-private partnership (PPP) metro projects globally. The project currently facilitates over 500,000 passenger journeys daily. Following the announcement, IRFC's market capitalization stood at ₹1,31,364.62 crore. Manoj K Dubey, the company's CMD & CEO, highlighted that this transaction showcases IRFC's ability to provide innovative financing solutions for critical infrastructure and reinforces its commitment to enhancing urban mobility through efficient capital mobilization. In addition, on May 22, IRFC signed an external commercial borrowing agreement to raise a JPY-equivalent $1.1 billion loan from a consortium of lenders.