Railway Stocks Update: Due to the war between Israel and Hamas in the Indian stock market, stocks related to railway and defense sectors have taken a big hit. Which includes IRCON International, Rail Vikas Nigam Limited. Similar was the situation with shipping and defense stocks which saw a decline of up to 5 percent.
Palestine Islamic organization Hamas’ attack on Israel on Saturday and Israel’s retaliatory action continues thereafter. Due to this news, stock markets all over the world fell flat. But this war has had a major impact on railway stocks, so they fell by 6 percent in the day’s trade. The stock of IRCON International fell by 6.25 percent to Rs 132.80, IRFC fell by 5.21 percent to Rs 70.91, the stock of Rail Vikas Nigam Limited fell by 5.09 percent to Rs 161.30, RailTel Corp of India fell by 4.68 percent to the level of Rs 208.70. Slipped.
Apart from this, Texmaco Rail fell by 5.06 percent, Titagarh Railsystems by 3.61 percent, RITES by 2.57 percent, and IRCTC by 2.63 percent and closed at Rs 700.50. The market fears that the impact of the war between Israel and Hamas may hang in the balance. The India-Middle East-Europe Economic Corridor, which was announced during the G-20 meeting in September 2023, which will include a rail line from the Gulf country to Europe. Had to be laid.
Due to the war between Israel and Hamas, there has been a big decline in the shares of companies related to the shipping sector, which can get a big benefit from this corridor. Due to the war, Cochin Shipyard fell by 3.66 percent to close at Rs 1033, Mazagon Dock Shipyard fell by 3.56 percent to close at Rs 2073 and Garden Rich Shipyard fell by 3.80 percent to close at Rs 785.75.
Apart from railways, this corridor from India to Europe was also considered very positive for shipping companies. But after the war between Israel and Hamas, global political instability has increased in the Middle East, which has created a situation of confusion among investors.
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