Railway Stocks Rally: A tremendous rise is being seen in the stocks of railway related companies in Monday’s trading session in the stock market. Due to heavy buying by investors, there has been a 20 percent jump in the stocks of railway related companies. There is tremendous enthusiasm in the shares of Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL), Texmaco Rail and IRCON International.
Bumper boom in IRFC and RVNL
Among the railway related companies, the biggest rise is being seen in the stock of Indian Railway Finance Corporation (IRFC). IRFC shares are trading at Rs 66.78 with a jump of 20 percent. Upper circuit has been installed in the stock. There is also a huge rise in the shares of Multibagger Stock Rail Vikas Nigam. The stock is trading at Rs 162.05 with a rise of 17.22 percent. The stocks of both RVNL and IRFC are trading at their record high.Ircon International’s stock is also rising tremendously due to heavy buying. Shares of IRCON International are trading at Rs 133.95 with a gain of 12.85 per cent. Apart from this, Texmaco Rail is trading at Rs 160.12 with a gain of 8.12 per cent, Titagarh Railsystems at Rs 849.65 with a gain of 4.39 per cent and IRCTC at Rs 704 with a gain of 2.30 per cent. So RITES stock is up by 1.23 percent and is trading at Rs 516.55.
Why are railway stocks up?
In the last few months, there has been a great boom in the shares of government companies. Talking about the sector, the stocks of defense companies have given multibagger returns. Now it is the turn of stocks of companies related to railways. In fact, the central government is planning to invest Rs 5.25 lakh in railways between 2024-31. Companies associated with these railways will get a big benefit from this. This is the reason why there is a huge boom in railway stocks. You will remember that the Prime Minister Narendra Modi, while replying to the discussion on trust vote recently, had asked investors to buy shares of government companies.
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