New Delhi: Railway stocks – RVNL, IRFC, IRCON, RITES, BEML, IRCTC and others have significantly gained in the last one year. With the Narendra Modi-led NDA government set to present the full Budget 2024 in July, the stock market investors are keeping their fingers crossed and are anticipating Union Finance Minister Nirmala Sitharaman to announce some big steps for the country’s largest public transporter – Indian Railways.
Commenting on the rise in share prices of Railway Stocks, Rajeev Gupta, Managing Director, Resource Development International, said that all the Railway stocks have picked up before Budget 2024 as Railway Ministry had announced to invest Rs 57 trillion from 2023 to 2030. The Railways has already committed to enhance infrastructure, which includes upgradation of stations, expansion of new railway lines, increase in Vande Bharat Express trains.
Backing the Railway stocks to rise further, the economist said a huge amount of investment is being made to build dedicated freight corridors and construct high speed rail lines. The new government has stabilised and the agenda to build infrastructure is absolutely being taken ahead as it was done in the 10 years of the Modi government, he stated, adding that the companies engaged in the Railway sector are likely to benefit from huge work being done in coach and track building and anything related to the public transporter because of the modernisation planned for the 6-7 years.
How Railway stocks performed
IRFC share price
IRFC share has increased over 450 per cent in the last one year. The stock closed at 187.90 on NSE on July 5, 2024.
RVNL share price
RVNL is yet another Railway stock which has turned out to be a multibagger as the Railway PSU stock rallied around 300 per cent in the last one year. The counter closed at Rs 492.15 on 5th July on NSE.
IRCON share price
IRCON shareholders holding the stock for over a year have gained around 270 per cent. RVNL share price ended at Rs 308.20 on 5th July.
RITES share price
RITES, a Navaratna central public sector undertaking under the Ministry of Railways, has given over 100 per cent returns to its shareholders. RITES share price closed at Rs 764.05 on July 5.
BEML share price
BEML share price has skyrocketed in the last one year. The stock gained over 200 per cent in the last one year. The scrip closed at Rs 5,082 on July 5 on NSE.
IRCTC share price
The IRCTC stock has been a slow mover as compared to other Railway stocks. The scrip gained over 60 per cent in the last one year. IRCTC share price closed at Rs 1,026 on July 5 on NSE.
The share price of RVNL, IRFC, IRCON, RITES, BEML, IRCTC have increased significantly in the last one year. Economist Rajeev Gupta backed Railway stocks to increase more as the Modi government has planned huge investment for Indian Railways. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
