During the week, the market capitalisation of five key railway PSUs, namely Rail Vikas Nigam, Indian Railway Finance Corporation (IRFC), Ircon International, RailTel Corporation of India, and IRCTC, witnessed an extraordinary surge, collectively gaining ₹1.22 lakh crore.
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.
Shares of IRFC, RVNL, Texmaco Rail and Titagarh Rail Systems surged in Tuesday s trade, hitting fresh 52-week highs. These railway stocks are rallying ahead of the Union Budget 2024. IRFC has gained 46% in the last five trading sessions and delivered 328% returns in the past 12 months. With a market cap of over Rs 1.85 lakh crore, IRFC is the largest railway stock on the Indian exchanges. RVNL, Ircon International, Jupiter Wagons, Titagarh Rail Systems, and Texmaco Rail have also outperformed the Nifty, with significant gains ranging from 135% to nearly 300%.
IRFC stock has surged 295 percent in the past year, nearly quadrupling investors money. In the past two years, it has yielded a whopping 400 percent return