NSEStocks YTD return One-year return RVNL 113% 214% IRFC 76% 435% IRCON 53% 218% IRCTC 16% 60% RailTel 18% 216%After rallying over 100% so far this year, heavy buying was witnessed in shares of railway stocks like RVNL and IRFC along with IRCON, RailTel and IRCTC.
All these stocks are up between 3% and 10% on Tuesday (June 11).IRFC shares are currently trading 3% higher at ₹177.80.
Even shares of Railtel are up 7.70% in today's trading session.
RVNL share price jumped 4% in the early trade on June 11 after the company received a work order worth ₹138.45 crore from Central Railway.
He held the Railway Ministry since July 2021.
NSE
Stocks YTD return One-year return RVNL 113% 214% IRFC 76% 435% IRCON 53% 218% IRCTC 16% 60% RailTel 18% 216%
After rallying over 100% so far this year, heavy buying was witnessed in shares of railway stocks like RVNL and IRFC along with IRCON, RailTel and IRCTC. All these stocks are up between 3% and 10% on Tuesday (June 11).IRFC shares are currently trading 3% higher at ₹177.80. At the current level, the shares had risen 76% so far in 2024. Even shares of Railtel are up 7.70% in today's trading session. RVNL share price jumped 4% in the early trade on June 11 after the company received a work order worth ₹138.45 crore from Central Railway. So far this year, the stock has rallied about 114%.Global brokerage firm Goldman Sachs wrote in a note that it expects the new government to stick to the fiscal consolidation path with a continued thrust on infrastructure creation through more rail network, amidst a slight tilt towards more rural spending.On the election result day on June 4, railway companies tumbled as investors rushed to book profits. This was after initial election results painted a different picture from exit polls, which had predicted a landslide victory for Prime Minister Narendra Modi.However, with the retention of Ashwini Vaishnaw as the Minister of Railways, investors are expecting that the BJP-led NDA will continue its growth-led policy initiatives.Vaishnaw has retained the Railways Ministry and IT Ministry besides getting one heavyweight portfolio - Information and Broadcasting. He held the Railway Ministry since July 2021. Vaishnaw had replaced Piyush Goyal, who led the ministry from September 2017 to July 2021.The central government has tried to change the face of public transportation, and the railway tops the chart, with a massive push on building world-class infrastructure, stations, and the launch of new trains like Vande Bharat and Bullet trains.Ahead of the 2024 Lok Sabha elections, the government said the railway ministry was planning to launch Vande Bharat Sleeper Coach and Vande Bharat Metros.Earlier in April, Vaishnaw said the government was looking to increase the capacity of the Railways to a level where every passenger could get a confirmed ticket."In the next five years, PM Modi guarantees that the capacity of the Railways will be increased so much that almost any passenger who wants to travel can easily get a confirmed ticket," the minister had said in a video message.The central government has announced the introduction of 50 Amrit Bharat trains in the financial year 2024-25, which are designed to enhance passenger experience on non-Vande trains.The Indian Railways has plans to operationalise 4,500 Vande Bharat trains by 2047.
