In a pre-budget surge, shares of companies linked to the railway sector witnessed a remarkable uptrend on Friday, January 19. Several government-owned entities marked a new 52-week high during the day’s trading. Among these, Rail Vikas Nigam Limited (RVNL) soared by 20%, reaching its highest level in the past year. Let’s explore the noteworthy performances and developments in these railway-related stocks.
1. Rail Vikas Nigam Limited shares (RVNL):
- RVNL’s shares experienced a 20% jump, reaching a new 52-week high.
- The trading session saw multiple block deals, pushing the stock beyond its upper circuit limit.
- Closing at INR 292.3 on the NSE, RVNL’s market capitalization surpassed a staggering INR 2 lakh crores. This surge represents a substantial gain since its previous high.
2. Indian Railway Finance Corporation (IRFC):
- IRFC witnessed an impressive surge of nearly 10%, reaching a trading level of INR 160.85.
- The company’s market capitalization has now crossed the INR 2 lakh crore mark.
- Notably, IRFC’s shares have recorded a remarkable 60% surge since the beginning of the year, making it a notable player in the railway stock rally.
3. Ircon International:
- Ircon International’s shares exhibited robust growth, climbing by approximately 11.6% to close at INR 227.70 on the NSE.
- During the trading day, the stock touched a new high of INR 230.85.
- Since the start of 2024, Ircon International has witnessed an impressive uptrend, with its shares recording an increase of around 30.45%.
The pre-budget rally in railway-related stocks showcases the investor confidence in these government-owned entities. As Rail Vikas Nigam Limited, Indian Railway Finance Corporation, and Ircon International set new highs, investors are reaping substantial profits. With the upcoming budget, these developments reflect optimism and anticipation regarding potential infrastructure investments and advancements in the railway sector.
Disclaimer: Stock market investments carry risks, and readers are advised to conduct thorough research or consult financial experts before making investment decisions
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