New Delhi: Railway PSU stocks – Indian Railway Catering and Tourism Corporation (IRCTC), Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam Limited (RVNL), Ircon International, Rail India Technical and Economic Service (RITES) and IFCI Limited have given bumper returns to their shareholders in the last one year.
With the Narendra Modi-led NDA government set to present Budget 2024 on July 23, let’s see what stock market expert Dr Rajiv Ranjan has to comment on the mentioned Railway stocks. The expert said all the stocks would see new highs after Budget 2024 is presented by Union Finance Nirmala Sitharaman. Ranjan said the stocks will rise as he anticipated that the Modi 3.O will bring in a growth oriented Budget. Government spending will grow so the companies will also grow, he added.
Speaking to News9live, Ranjan said the existing shareholders of RVNL, Ircon, IRFC, Rites and IRCTC should remain invested as the share price is expected to appreciate after a ‘growth-oriented Budget’ is presented. On technical charts, the stocks are looking good and the government is expected to invest more in these companies after the stocks, he added.
The expert made a disclosure that he might have some investments in some of the particular stocks and the investors should take help of their financial advisors before buying or selling of the shares.
RVNL share price
Of late, RVNL share price zoomed over 50 per cent. The Railway stock jumped over 140 per cent in the past six months and around 400 per cent in the last one year. RVNL share price was trading at Rs 593.35 apiece at 11:27 am on July 18, 2024. The Navratna status company has grabbed several major deals in the recent months.
IRFC share price
Investors who purchased IRFC shares a year back might be dancing with joy as the Railway PSU stock rallied over 500 per cent since July 18, 2023. IRFC share price at 11:27 am on July 18, 2024 – Rs 204.29 on NSE. IRFC, a Schedule ‘A’/Miniratna Public Sector Enterprise, is the dedicated funding arm of Indian Railways. The company is engaged in the business of mobilising funds from domestic and overseas markets to meet the pre-dominant portion of Extra Budgetary Resources requirement of Indian Railways.
Ircon share price
Ircon shares have also turned out to be Multibagger. The railway stock went north in the past six months by rising over 50 per cent; it rallied over 250 per cent in the last one year. Ircon share price at 11:30 am on 18th July on NSE – Rs 311.50. The PSU company is a Schedule ‘A’ Mini Ratna Category-I Government Company in the construction sector and has its presence across India and several foreign countries including, Malaysia, Nepal, Bangladesh, Mozambique, Ethiopia, Afghanistan, UK, Algeria and Sri Lanka.
RITES share price
RITES share price has jumped in the last one year, but not as much as the above-mentioned Railway PSU stocks. The stock appreciated around 36 per cent in the last six months and a little over 75 per cent in the past one year. RITES share price at 11:38 am on July 18 on NSE – Rs 723.15.
RITES Limited is a Navratna and Schedule ‘A’ Central Public Sector Enterprise under the Ministry of Railways. It provides a range of services from concept to commissioning of bridges
Tunnels, Buildings & Property Development, Airports & Integrated Check Posts, Urban Infra & Sustainability, Ports & Harbours, Transaction, Advisory & Procurement, Ropeways, etc.
IRCTC share price
IRCTC share price has gained around 8 per cent in the last six months and over 60 per cent in the last one year. IRCTC is a public sector undertaking that provides ticketing, catering, and tourism services for Indian Railways. IRCTC share price at 11:52 am on July 16 – Rs 1,007.50.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Railway PSU stocks: Stock Market expert Rajiv Ranjan predicted that the share price of RVNL, Ircon, IRFC, Rites and IRCTC will rise after Modi 3.0 presents Budget 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
