Shares of railway stocks dipped after Finance Minister Nirmala Sitharaman s interim budget presentation. The government plans to invest Rs 11.11 lakh crore in the rail sector for 2024-25, including converting 40,000 rail bogies to Vande Bharat standards and creating three rail connectivity corridors.
Indian shares will likely open little changed on Thursday, tracking their Asian peers, with the focus on the Street s reaction to quarterly results of key Nifty 50 constituents such as Tata Steel,.
Shares of IRFC, RVNL, IRCTC, and other railway stocks rallied up to 11% on Thursday. Among them, RailTel Corporation was the top gainer, with its quarterly profit doubling YoY. IRFC s market cap crossed Rs 2.25 lakh crore mark as its shares gained nearly 80% in the last one month. RVNL has delivered 300% returns in the past 12 months. IRCTC shares saw a 2% rise in today s intraday trading.