Railway Stocks in Focus: IRCTC, IRFC, RVNL, IRCON Giving High Returns

Railway stocks are in the bullish momentum for the last few days. Stocks like RVNL, IRFC, IRCON, and IRCTC are in a massive uptrend and hitting heights continuously. In the recent trading session, the market witnessed an over 13 per cent hike in the IRCTC and IRFC. While on the other side, RVNL surged over 9% in a day. Let’s have a detailed analysis and know why the railway stocks are getting in focus before the financial Budget 2024.

In the trading hours, IRCTC share price marked a jump of around ₹20, and IRFC share price went up to ₹16 which was a nearly 15 per cent rise from the last trading session. Along with these stocks, RVNL also surged with around 9 per cent. Till now the stocks have given a good rise in the prices of railway stocks in the last week.

It was noticeable that the Indian Railway Construction International Limited (IRCON) also marked over 3 per cent in the share price. Most probably, the excitement before the budget and the ongoing Ram Mandir Ceremony fueled the stock prices with the massive surge. Currently, Nifty is also traded at ₹22,100 and looking stronger enough to conquer the next price targets.

After the continuous rally in the railway stocks, people are expecting some good news related to the Indian railway. As per the news, Indian Railway will start a direct special train from Ranchi to Ayodhya on 22nd January.

Also, there is a positive sign that the government may bring a good budget for the Indian railway. However, there is no update about the confirmation related to the increase in the Railway budget 2024 by the government. Read about some other industries that have been getting positive momentum in the past few days on our website. Stay tuned for the latest business news updates and top stories.