Shares of railway companies, including IRFC, Ircon, Texmaco Rail & Engineering, Oriental Rail Infrastructure, Jupiter Wagons, and Railtel Corporation Of India, have tripled investors money, rising between 209-367%. Container Corporation Of India has seen the smallest rise at 46%. The government s focus on the railway sector, with fresh capital infusion, dedicated freight corridors, new Vande Bharat trains, and other high-speed projects, has fueled the surge in these shares.
While experts believe that the market valuations were expensive on the back of multiple new peaks hit since September last year, do the recent corrections make for a good buying opportunity?
Despite customer disconnections, Vodafone Idea s stock value has tripled in the current financial year, with a nine-month winning streak. Both foreign institutional investors and mutual funds have steadily increased their holdings in the telecom operator. Mutual funds saw the maximum increase in ownership in the December quarter. The number of mutual fund schemes holding the stock also increased. Vodafone Idea s shares rallied on expectations of fund infusion and potential investments for 5G services.
Vodafone Idea: The current financial year has been the best for the telecom operator in three years as the stock’s value has gone up by nearly three times on the back of gains in each of the months of FY24.
Foreign institutional investors (FIIs) bought shares worth Rs 656.57 crore, while domestic institutional investors (DIIs) sold Rs 369.29 crore worth of stocks on January 16, provisional data from the NSE showed.