Is it permissible to collectively recite Surat Al-Ikhlas eleven times after the Asr prayer on Friday, and dedicate its reward to the inhabitants of the graves?

The preponderant opinion is that it is permissible to gift the reward of reciting the Qur’an to the deceased. However, dedicating a specific day and time to recite a particular Surah a specific number of times without sound legal evidence is an innovation (bid'ah). A Hadith has been narrated regarding reciting Surah Al-Ikhlas eleven times for the deceased, but Al-Albani judged it to be fabricated (mawdu').