Railway stocks witnessed strong buying momentum ahead of the Union Budget 2024, as investors anticipate higher capital allocation for railway infrastructure and modernization projects. BEML (+5.35%), JWL (+3.43%), and IRCON (+3.33%) were among the top gainers in early trade.
Top performing railway stocks (as of 10:30 AM)
- BEML (NSE: BEML) +5.35% to ₹3,730.05, gaining ₹189.45.
- JWL (NSE: JWL) +3.43% to ₹368.00, up ₹12.20.
- IRCON (NSE: IRCON) +3.33% to ₹209.45, adding ₹6.75.
- Titagarh Rail (NSE: TITAGARH) +2.67% to ₹985.50, rising ₹25.65.
- IRCTC (NSE: IRCTC) +2.56% to ₹798.95, up ₹19.95.
- Texmaco Rail (NSE: TEXRAIL) +2.32% to ₹190.20, adding ₹4.32.
- Rail Vikas Nigam Ltd (NSE: RVNL) +2.32% to ₹447.05, gaining ₹10.15.
- RITES (NSE: RITES) +1.80% to ₹263.00, up ₹4.65.
- Indian Railway Finance Corporation (NSE: IRFC) +1.28% to ₹150.12, adding ₹1.89.
Sector outlook ahead of Budget 2024
Railway stocks are expected to remain in focus, with expectations of a higher capital outlay for rail electrification, new projects, and private sector participation. The government’s push for modernization, freight corridor expansion, and high-speed rail projects is likely to drive further momentum in the sector.
Disclaimer
The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
