Railway Stocks On A Roll: IRCON, IRFC, Jupiter Wagons, RVNL Rally Up To 13%—Here's Why
The sentiment is uplifted because of the recent project announced by Union Cabinet and the expectations around the upcoming Budget 2025.
Railway stocks were seen rallying to fresh highs on Wednesday. Rail Vikas Nigam Ltd., Indian Railway Finance Corp., IRCON International Ltd. and Jupiter Wagons Ltd., are among the sector's top gainers. The sentiment is uplifted because of the recent project announced by Union Cabinet and the expectations around the upcoming Budget 2025.
Jupiter Wagon Ltd. was the top gainer in the category as the shares rose as much as 12.72% at Rs 562 apiece.
Shares of IRCON International Ltd. rose as much as 5.32% at Rs 234.22 while those of Indian Railway Finance Corp. and Rail Vikas Nigam Ltd. surged 4.43% to Rs 163.83 apiece and 3.40% to Rs 473.90 apiece, respectively, on Wednesday.
While shares of Titagarh Rail System Ltd. surged as much as 6.82% to Rs 1,315.30 apiece, Texmaco Railway and Engineering Ltd. rose as much as 4.75% to Rs 232.30 apiece.
Railtel Corp of India Ltd., surged as much as 3.92% at Rs 452.40 apiece, compared to a 0.17% advance at the NSE Nifty 50 at 01:48 p.m.
Earlier on Nov. 25, the Cabinet gave its nod to three multitracking projects of the Indian Railways at a cost of Rs 7,927 crore, to provide connectivity, facilitate ease of travelling, minimise logistics cost, reduce oil imports and lower carbon emissions.
These projects align with the prime minister’s vision of a New India, promoting self-reliance and creating employment opportunities in the region. They stem from the PM-Gati Shakti National Master Plan for multi-modal connectivity, enabling seamless movement of people, goods, and services through integrated planning.
