Multi bagger railway stocks IRCON, RVNL, IRFC, RailTel share prices rebound up to 13%
IRCON International Ltd, Rail Vikas Nigam Ltd, Indian Railway Finance Corporation , RailTel Corporation of India share prices rebounded up to 13,.5% on Thursday after being battered in earlier sessions. The railway stocks as Titagarh Rail Systems , Jupiter Wagons ltd among other also saw sharp gains of up to 10% on Thursday.
The railway stocks have been favorite of the investors and having given multi bagger returns to investors. Despite the sharp selling pressure seen in the stocks during last few days, investors are still sitting on handsome returns.
While Indian Railway Finance corporation stands out with around 464% returns in a year, others as IRCON , Rail Vikas Nigam RailTel etc also not behind having given return of up to 298%. Also Read- SBI vs Bank of Baroda: Which PSU bank stock should you pick for long term? Investors who have Jupiter wagons and Titagarh Rail systems in their portfolio are also sitting with handsome gains of 252% and 91% in a year despite correction.
The selling pressure in the stocks had been led by overall selling pressure in mid caps and small caps and negative sentiments in the markets. Nevertheless analysts see reasonably strong prospects for these companies.
Kotak Institutional Equities post its interactions with former railway board member has highlighted some technology upgrade and other opportunities posed by the sectors Also Read- Tata Steel, JSW, JSPL, SAIL share prices see impact of declining steel prices: Softer input costs to benefit over time. These include the near-term focus of railways prior to any new tendering will be on the execution of already awarded Vande Bharat orders. The manufacturing of upcoming trains such as Amrit Bharat will take place in existing rail coach
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