NHPC spikes 15%, BSE PSU index records new all-time high surging over 3.5%

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Rail Vikas Nigam and Indian Railway Finance Corporation (IRFC), locked in 10% upper circuit limit in today's trade, while another railway PSU, Ircon International, soared by an additional 15%, touching a new all-time high of ₹261.35 apiece. Railway PSUs have been on an upward trajectory since the government announced a substantial capital outlay of ₹2.40 lakh crore for the Indian Railways in the Union Budget 2023-2024. This marked the highest-ever outlay, approximately nine times the investment made in 2013–14.

Amid this positive momentum, analysts anticipate further investments, given the government's strong commitment to the transformation of the Indian Railways. Also Read: Rail stocks RVNL, IRFC, IRCON jump up to 15% to new highs; soar up to 75% just in Jan ahead of Budget Meanwhile, the robust performance of IRFC shares propelled the company's market capitalisation to surpass that of M&M, Tata Steel, and Jio Financial Services. In the previous trading session, the company achieved a market capitalisation exceeding ₹2 lakh crore, securing its position as the ninth PSU firm to attain this milestone.

In today's session, the company's market capitalization reached ₹2.3 lakh crore as its shares marked another all-time high of ₹176.2 apiece. Power stocks are also seeing a strong spike in today's trade amid growing power demand in the country. The peak power demand in India is likely to cross 400 GW by 2030, and more generation capacity is being set up to meet the rising demand, said Union Power Minister R K Singh.