The crash of the Indian markets led to major erosion in major PSU stocks linked to the railways. PSU stocks such as RVNL (Rail Vikas Nigam Ltd), IRFC (Indian Railway Finance Corp Ltd), IFCI, IRCON (Ircon International Ltd), IRCTC (Indian Railway Catering and Tourism Corp Ltd), Concor (Container Corporation of India Ltd) took a beating.
RVNL share price
The price of RVNL (Rail Vikas Nigan Ltd) was down by Rs 39.40 on Monday, August 5. It translates to a 6.68% drop. The share closed at Rs 550.40 when curtains came down on trading. The 52-week high of this stock is Rs 647.
IRFC share price
The shares of Indian Railway Finance Corp Ltd (IRFC) dropped by Rs 13.34 on August 5 – or 6.94% — and stood at Rs 178.99 at the close of trade. The 52-week high of this stock is Rs 229.
This company is a Schedule A Miniratna Public Sector Enterprise and has been in focus in the recent months when the Centre announced a focus on improving railway service and infrastructure. Before the budget on July 23, this share had appreciated by as much as 480% in just one year.
IFCI share price
Black Monday wiped off as much as 7.57% from the value of this stock. The IFCI share price came down by Rs 6.20% and stood at Rs 75.72 on August 5, 2024. The 52-week high of this share is Rs 91.40. In a little more than four years the stock has come up from the level of Rs 3.50.
IRCON share price
The share of this PSU suffered a 6.28% erosion in value of Monday. It came down to Rs 266.50 after declining by Rs 19.50 during the day. It has a 52-week high of Rs 351.60.
IRCTC share price
The shares of IRCTC went down by Rs 41.40 and stopped at Rs 925.00 on Monday. The drop was by 4.28%. The 52-week high of this stock is Rs 1,138.90.
Container Corporation of India share price
By absolute amount, the shares of Concor went down by the highest Rs 54.90 to stop at Rs 975.60 – a drop of 5.29%. The 52-week high of this share is Rs 1,180.00.
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Railway stocks, a darling of investors in recent months, took a beating on Monday, August 5, 2024. Share orice of RVNL, IRFC, IFCI, IRCON, IRCTC, Concor will be in focus on August 6. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
