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Shares of IRFC are up 11% in the last three trading sessions. The stock has bee in the news over the last two days as well. The company signed a leasing pact with NTPC on Wednesday for eight BOBR rakes worth ₹250 crore.
IRFC had also emerged as the lowest (L1) bidder to finance ₹3,167 crore for a coal mine in Jharkhand on Tuesday.
During a four-day losing streak that the stock snapped earlier this week, IRFC shares had corrected 40% from their peak of ₹229, which they had hit last year.
Shares of IRCON International are among the top gainers among the railway PSU stocks on Thursday, gaining as much as 9%. The stock too has gained for three days in a row, having nearly halved from its peak of ₹351.
Shares of RailTel are trading with gains of 7% on Thursday but have oscillated between gains and losses over the last four trading sessions. That stock too had corrected 41% from its all-time high of ₹617.
RITES shares are up for the third straight day, having gained one percent each on Tuesday and Wednesday. As of Monday’s close, the stock was down 38% from its peak. Shares of RITES are up 5.1% on Thursday.
RVNL shares are now up 11%, extending gains after its consortium, which it leads, won a Letter of Award for an order worth over ₹3,200 crore from BSNL. The stock has oscillated between gains and losses in the last four trading sessions. The stock, as of Monday’s close, was down 45% from its peak of ₹647.
Shares of these railway companies were on a tear in January 2024 as the PSU rally of 2023 had spilled over into the first month of 2024 as well. While IRFC and RVNL had gained more than 70% each in January 2024, others had ganied between 30% to 50%.
First Published: Jan 16, 2025 11:45 AM IST
