Railway stocks witnessed a surge on Friday, May 16. Throughout the week, shares of railway-related companies, both public and private, saw significant gains in the stock market.
Titagarh Rail Systems has delivered over 34% returns in a week. On May 16th alone, the stock surged by 14%, reaching a high of ₹924.
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2. IRCON International Share
IRCON International's stock has jumped over 29% in 7 days, with an 8% surge on Friday. IRCON secured a ₹51.61 crore project from North Western Railway for remote diagnostic and predictive maintenance systems in Jaipur, Ajmer, Bikaner, and Jodhpur divisions. The stock is currently around ₹188.50.
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3. RVNL Share
Rail Vikas Nigam Limited (RVNL) has also seen a 28% surge in a week. On Friday, it rose by over 10%, reaching a high of ₹415. However, it's still about 38% below its 52-week high of ₹647. The company received a new contract worth ₹115.79 crore. A final dividend announcement is expected in the board meeting on May 21st.
RITES Limited's shares have surged by 27% over the week, with a 12% jump on May 16th. As of 2:30 pm, the shares were trading at ₹277.60.
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5. Jupiter Wagons Share
Jupiter Wagons, which designs and manufactures freight wagons and passenger coaches for Indian Railways, has delivered returns of up to 27% in a week. The stock rose by over 8% on Friday, trading around ₹420 as of 2:30 pm.
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6. Railtel Corp Share
Railtel Corporation of India Limited's stock has risen by 25% within 7 days. On Friday, May 16th, it jumped by over 6%, currently trading around ₹384.50.
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7. IRFC Share
IRFC shares saw gains for the third consecutive day on Friday. In the initial 2 hours, the stock rose by 6% to ₹137.95. As of 2:30 pm, it was trading at ₹138.86, up by 6.62%.
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Reasons for the surge in railway stocks
The improving market sentiment has attracted investors towards government companies related to the railway and defense sectors. Increased order books, such as Rail Vikas Nigam's new order from Central Railway, have strengthened the companies' future prospects. Several railway stocks were trading below their all-time highs, making them attractive to investors in terms of valuation. Disclaimer: Consult your market expert before making any investment.
