Investors in railway-related stocks are on a winning streak as IRFC witnesses a remarkable 77% gain and RVNL achieves a solid 76% surge in January. The upward trajectory continues as these stocks reach new highs, soaring up to 15% amid heavy volumes, driven by expectations of increased allocation for Indian Railways in the upcoming Budget 2024. Railway stocks, collectively, have witnessed a remarkable 75% surge in just the current month.
RAILWAY STOCKS RUNNING! 🚂#IRFC — Gain of 77% in January itself. #RVNL — Gain of 76% in January so far.#Stocks #StockMarket @hormaz_fatakia pic.twitter.com/zYByB2u3Aw
— Ruchit Purohit (@Journoruchit) January 20, 2024
In today’s trading session, IRCON International marks a 15% surge to a new high of ₹261.35, closely followed by Rail Vikas Nigam (RVNL) with a 10% rally, reaching a record high of ₹320.75. IRFC (Indian Railway Finance Corp) gains 9.7% to hit a new peak of ₹176, while RailTel jumps 8% to an all-time high of ₹417.80. IRCTC advances by 4.7%, reaching a record high of ₹1,029.85.
This marks the 10th consecutive positive session for RVNL, reflecting a stunning 75% surge in January alone, building on the 10.5% rise in December 2024 and a 6.5% gain in November 2023. Over the past year, RVNL has delivered multi-bagger returns, soaring by an impressive 279%. Today’s record high represents a phenomenal 471% surge from its 52-week low of ₹56.15, recorded on March 1, 2023.
IRFC’s rally continues, boasting a surge of over 74% in January, following a 33% rise in December and a 2.8% gain in November. Over the last year, IRFC has seen multibagger returns, skyrocketing by more than 385%. With today’s peak, the stock has surged by an astonishing 591% from its 52-week low of ₹25.45, hit on March 28.
IRCON has witnessed a remarkable gain of over 276% in the last year, with a 45% surge in January so far, extending gains for the 3rd straight session. This comes after a 3.5% rise in December and a 19.3% gain in November. The stock has soared by an impressive 421% from its 52-week low of ₹50.15, recorded on February 27.
In January, RailTel has advanced by over 21%, building on a 16% and 30.5% jump in December and November, respectively. RailTel has also delivered multibagger returns over the last year, rising by over 201%. Despite this, it has already rallied by 334% from its 52-week high of ₹96.20, recorded on March 28, 2023.
IRCTC stock has added over 14% in January, extending gains for the 3rd straight month, following a 26% jump in December and a 6% gain in November. Over the last year, IRCTC has advanced by almost 54%, marking an 85% surge from its 52-week low of ₹557.15, recorded on March 29, 2023.
Finance Minister Nirmala Sitharaman’s allocation of ₹2.4 lakh crore for the financial year 2023-24 (FY23-24) for the railways continues to positively impact the railway sector.
