Indian benchmark indices opened marginally lower amid weak Asian markets on Friday after reaching record highs on the previous day. The BSE Sensex was down 53.53 points or 0.09% at 62219.15, and the NSE Nifty 50 index fell 16.60 points or 0.09% to 18467.50.
With the markets making new highs, here are 2 railway stocks that reached their new 52-week high:
Rail Vikas Nigam Limited
On Friday, the shares of Rail Vikas Nigam Limited opened at Rs 67 and gained more than 5 per cent to reach a 52-week high of Rs 71.50. The stock has been on an uptrend and has gained more than 14 per cent in the last five days.
In a month, the stock has jumped by 80 per cent. The share price has risen from Rs 33.65 in September to the current levels, logging a multibagger return of 110 per cent in two months.
Rail Vikas Nigam Ltd is engaged in the business of implementing various types of Rail infrastructure projects including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units, and sharing of freight revenue with Railways
Indian Railway Finance Corporation Limited
The shares of IRFC opened at Rs 31 and gained more than 3 per cent to reach a 52-week high of Rs 32.15 in the early hours on Friday. The stock has been on an uptrend and has gained more than 16 per cent in the last five days.
In a month, the stock has gained approximately 44 per cent. In the span of four months, the stock has risen up by 54 per cent.
Indian Railway Finance Corporation Ltd (IRFC) is the financing arm of the Indian Railways. Its principal business is to borrow funds from the financial markets to finance the acquisition/creation of assets.
Written by Anoushka Roy
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