Railway stocks have been in an uptrend for a long time and some of the stocks have even delivered multibagger returns, but it seems that these stocks still possess potential upside.
During Wednesday’s trading session, shares of Rail Vikas Nigam Limited (RVNL), Indian Railway Finance Corporation (IRFC), and IRCON International touched all-time highs.
According to reports, diversification of business, and focus on the infrastructure sector in the upcoming budget 2024, the Government of India (GoI) declared a fresh infusion for the development of railway infrastructure and expected strong Q3 results by these companies are some of the major reasons for the recent rally in these railway stocks.
Listed below are the 4 railway stocks that could be in focus ahead of the Budget 2024:
Indian Railway Finance Corporation Ltd (IRFC)
With a market capitalization of Rs. 1,93,061 crores, the shares of Indian Railway Finance Corporation started Wednesday’s trading session on a lower note at Rs. 138 compared to its previous close of Rs. 141. During the trading session, the shares hit a high of Rs. 149.40, gaining around 5 percent, which is also recorded as the company’s fresh 52-week high and is currently trading at Rs. 147.95 apiece.
Headquartered in New Delhi, Indian Railway Finance Corporation was incorporated in 1986. The Company is a funding arm of the Indian Railways for mobilizing funds from domestic and overseas Capital Markets.
IRFC is a Mini Ratna I and Schedule A Public Sector Enterprise under the admin control of the Ministry of Railways, Govt. of India. It is also registered as a Systemically Important Non–-Deposit taking NBFC and Infrastructure Finance Company.
Rail Vikas Nigam Ltd (RVNL)
With a market capitalization of Rs. 48,539 crores, the shares of Rail Vikas Nigam started Wednesday’s trading session on a flatter note at Rs. 223.40 compared to its previous close of Rs. 223.55. The shares hit a high of Rs. 235, gaining around 5 percent, which is also recorded as the company’s fresh 52-week high and is currently trading at Rs. 233.10 apiece.
Headquartered in New Delhi, Rail Vikas Nigam was incorporated in 2003. The company is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
Ircon International Ltd (IRCON)
With a market capitalization of Rs. 19,826 crores, the shares of Ircon International started Wednesday’s trading session negatively at Rs. 202.90 compared to its previous close of Rs. 205.35. The shares hit a high of Rs. 212.95, gaining around 3 percent, which is also recorded as the company’s fresh 52-week high and is currently trading at Rs. 210 apiece.
Headquartered in New Delhi, Ircon International (IRCON) commenced its business in 1976 as a railway construction company, it diversified progressively since 1985 as an integrated engineering and construction PSU specializing in large and technologically complex infrastructure projects in various sectors such as railways, highways, etc.
Titagarh Rail Systems Ltd
With a market capitalization of Rs. 14,674 crores, the shares of Titagarh Rail Systems started Wednesday’s trading session on a lower note at Rs. 1,070 compared to its previous close of Rs. 1,076. The shares hit a high of Rs. 1,099.90, gaining around 2 percent, and are currently trading at Rs. 1,091 apiece.
Headquartered in Kolkata, Titagarh Rail Systems Ltd was incorporated in 1997 and is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipments & Bridges, Ships, etc. The company caters to both domestic and export markets.
Written By Vaibhav Patil
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