Shares of railway companies spiked and rallied up to 18 percent on the BSE in Friday’s trading session and witnessed heavy volumes amid expectations of higher budgetary allocation for Indian Railways in 2024-25.
For Fiscal Year 2023-2024, an outlay of Rs 2.4 trillion was made by Finance Minister Ms. Nirmala Sitharaman for the ‘Railways’ sector. According to reports, the Interim Budget for FY2024-2025 will likely include an allocation of Rs 2.8-3 trillion for the railways to keep its capex momentum intact.
Listed below are some of the rail stocks that rallied based on the above reports: Texmaco Rail & Engineering Limited
With a market capitalization of Rs 7,760.68 crores, the stocks of Texmaco Rail & Engineering Limited closed at Rs 202.45 on Friday, gaining a whopping 8 percent as compared to the previous closing levels of Rs 187.75 apiece.
NBCC (India) Limited
With a market capitalization of Rs 17,011.80 crores, the stocks of NBCC (India) Limited closed at Rs 94.51 on Friday, gaining a whopping 9 percent as compared to the previous closing levels of Rs 87.18 apiece.
Indian Railway Finance Corp Limited
With a market capitalization of Rs 2.10 lakh crores, the stocks of Indian Railway Finance Corp Limited (IRFC) closed at Rs 160.89 on Friday, hitting the 10 percent upper circuit as compared to the previous closing levels of Rs 146.27 apiece.
Ircon International Limited
With a market capitalization of Rs 21,410.84 crores, the stocks of Ircon International Limited closed at Rs 227.65 on Friday, gaining a whopping 12 percent as compared to the previous closing levels of Rs 204.05 apiece.
Rail Vikas Nigam Limited
With a market capitalization of Rs 60,799.19 crores, the stocks of Rail Vikas Nigam Limited closed at Rs 292.40 on Friday, hitting the 20 percent upper circuit as compared to the previous closing levels of Rs 243.70 apiece.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
