Three railway stocks skyrocket up to 19% amid high volumes
railway stocks Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL), and Jupiter Wagons rallied up to 19% in Monday's trade backed by heavy volumes on the NSE.
IRFC topped the volume chart on NSE. The stock surged over 19% at Rs 66, as 22,30,99,748 shares worth Rs 1,404.6 crore changed hands on the counter.
IRFC also delivered multibagger returns to its investors, as the stock has rallied 100% year-to-date.
It has also jumped over 130% in the last six months and gained 200% in the past one year. The IRFC stock has a PE of 11.6, while its market cap stood at Rs 86,056 crore.
As per Trendlyne data, the average target price of IRFC is Rs 44, which shows a downside of 34% from the current market prices.
The consensus recommendation from two analysts for the stock is a 'Buy'.
Meanwhile, RVNL shares jumped 14.2% to Rs 158. A total of 8,39,29,992 RVNL shares worth Rs 1,260 crore changed hands so far.
RVNL, on Saturday last week, also received a letter of acceptance from Madhya Gujarat Vij Company.
«Rail Vikas Nigam Limited (RVNL) has received a Letter of Acceptance from Madhya Gujarat Vij Company Limited (MGVCL) for a Full Turnkey Contract (design, supply and installation) for the development of distribution infrastructure work for loss reduction at Dist. Vadodara under revamped reforms-based and results-linked distribution sector scheme,» RVNL said in an exchange filing.
The project cost is Rs 322.08 crore.
At 10.12 am, the RVNL shares were trading 13% higher at Rs 156.2.
