Shares of IRFC surged nearly 19% to hit an all-time high of Rs 134.5 as 33.66 crore shares worth Rs 4,291.5 crore changed hands on the counter.
IRFC shares have soared by 41.3% in the one month, 311% in the six months and 465% in the two years. The benchmark Sensex, meanwhile, has jumped by 2.4% in the one month, 10.83% in the six months and 203.2% in two years.
RVNL shares also advanced 13.5% to hit a new 52-week high of Rs 230.6 as 10.16 crore shares worth Rs 2,240.3 crore changed hands on the counter. It has also surged by 23.1% in one month, 88% in six months and 520% in two years.
India is in the most transformative phase in its history with massive Infrastructure development (Highways, Logistics, Ports, Railways, Metro), Defense, PLI and significant increase in domestic demand with rising income levels and youngest population globally., Prabhudas Lilladher said in a report.
Meanwhile, other railway stocks such as Jupiter Wagon hit 5% upper circuit at Rs 371.6. Titagarh Rail Systems shares rose 3.5%, and Ircon International jumped 7.5% to hit a 52-week high of Rs 209.7.
“As we eagerly anticipate the forthcoming budget, our industry envisions a governmental emphasis on cultivating a robust railway network. Our expectations for the budget revolve around advocating decongestion measures and strategic planning, fostering indigenous manufacturing, thereby contributing to a resilient and self-reliant Bharat. We anticipate a carry forward of the previous year’s postulates with undeterred throttle,” said Vivek Lohia, Managing Director of Jupiter Wagons.Also, shares of Texmaco Rail & Engineering rallied 6.2% and hit a 52-week high of Rs 193.5 in today’s trade amid heavy volumes on the BSE.
At 1:30 p.m., the stock was trading 3.7% higher at Rs 189 on BSE. In the last six months, the stock has rallied nearly 135%, while it has jumped over about 380% in the past two years.
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