New Delhi, May 25 -- Shares of Indian Railway Finance Corporation (IRFC) gained 4% to the day's high of Rs.102 apiece in Monday's trade, May 25, after the company said it had signed a Rs.13,527 crore term loan agreement with L&T Metro Rail Hyderabad (L&TMRHL) to refinance the debt obligations of the Hyderabad Metro Rail project.

The refinancing comes after the Government of Telangana took full control of L&T Metro Rail Hyderabad from Larsen & Toubro, turning the metro system into a key public transport asset owned by the state and providing a better financial base for expanding Hyderabad's metro network.

The company said the facility will refinance existing debt obligations, including non-convertible debentures (NCDs), commercial papers...