Railway Stocks Update: When the Indian stock markets opened on Monday, September 11, 2023, after the conclusion of the G20 meeting, a spectacular rise was seen in the stocks related to railways. The situation was such that upper circuit was imposed in many stocks related to railways, which included the stocks of Ircon International and IRFC. On Saturday, September 9, 2023, an agreement was signed for the Economic Corridor from India to Europe via the Middle East, in which India will be directly connected to Europe through rail and port connectivity. Due to this agreement, railway stocks saw a rise like a rocket.
On Monday, September 11, the biggest rise in the stock of IRCON International was seen in the stock market. After rising by 20 percent, the share of IRCON International reached Rs 160.35, after which the stock hit upper circuit. IRCON’s shares have risen 25 percent in a week, 55 percent in a month and 92 percent in 3 months. IRFC stock also hit upper circuit after rising by 10 percent. IRFAC is at Rs 84.75. IRFAC’s shares have risen by 27 percent in a week, 73 percent in a month and 155 percent in 3 months.
The stock of Rail Vikas Nigam Limited (RVNL) closed at Rs 189.50 with a jump of 16.36 percent, which is a lifetime high. The stock has risen 23 percent in a week, 50 percent in a month and 185 percent in 6 months. Apart from this, there has been a jump of 5.95 percent in the stock of RailTel Corp, 4.17 percent in Texmaco Rail, 3.54 percent in the stock of RITES, and 3.62 percent in the stock of Container Corporation.
Apart from India, America (United States), Saudi Arabia and United Arab Emirates (UAE), Italy, France, Germany and the European Union are partners in this economic corridor being built from India to Europe. This corridor will present a tough challenge to China’s (Belt Road Initiative). Trade between India and Europe will become easier and time will be saved. Also, the infrastructure project is going to be of big benefit. Indian railway companies will play a big role in preparing this infrastructure project, due to which there has been a rise in these stocks.
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