Railway stocks rose on Wednesday, December 11, as several companies continued to recover from their November lows. Shares of Indian Railways Finance Corporation (IRFC) and other railway companies are seeing strong gains.
IRFC shares have gained nearly 5%, rising above ₹160. If it closes above this level, it will be the first time since September 20. The stock has gained around 10% since its entry into the futures and options (F&O) segment on November 29. It is also up 20% from its low of ₹137 on November 18.
Rail Vikas Nigam shares have recovered 17% from its November low of ₹409, and shares of IRCON International are up by nearly 5%. Titagarh Rail and Jupiter Wagons, outperforming their PSU peers, have surged as much as 9% in today’s trading session. Jupiter Wagons share price saw a significant surge in stock price on December 11, 2024, with shares rising by ₹59.05, or 11.88%, reaching ₹556.05 per share by 11:51 AM.
IRCON shares have gained 27% since hitting a low of ₹183 on November 22. RailTel is also up by nearly 6%, recovering 27% from its low of ₹360 on November 21, following multiple new orders.
BEML has recently secured orders worth over ₹200 crore, and the sector has been in focus following the Union Cabinet’s approval of three major railway projects worth ₹7,927 crore. These projects include the Jalgaon-Manmad fourth line, Bhusawal-Khandwa third and fourth lines, and Prayagraj-Manikpur third line.
Despite the recovery from recent lows, railway stocks remain below their all-time high levels.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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