Railway stocks IRFC, IRCON, Titagarh gain up to 9% as recovery from lows continues – CNBC TV18

Railway stocks are surging in trade on Wednesday, December 11, as most of these companies continue to reverse from the recent lows that they made in November.

Shares of Indian Railways Finance Corporation (IRFC) are trading with gains of nearly 5% in trade. The stock is back above the mark of ₹160 and a close above that level will be the first such instance since September 20.

IRFC is a new entrant to the futures and options (F&O) segment and has gained close to 10% since it first started trading as an F&O stock on November 29. The stock is also up 20% from its November 18 low of ₹137.

Rail Vikas Nigam, another outperformer in recent times has seen a recovery of 17% from its November lows of ₹409.

Shares of other railway companies like IRCON International are also trading with gains of close to 5%. Stocks like Titagarh Rail and Jupiter Wagons are outperforming their PSU peers, witnessing gains of as much as 9% in today’s trading session.

IRCON International shares have recovered 27% from the November 22 low of ₹183. Shares of RailTel are also trading with gains of close to 6% after it won multiple orders over the last few weeks. The state-run company is also up 27% from its November 21 low of ₹360.

BEML too recently announced winning orders worth over ₹200 crore over the last two days.

Railway stocks have been in focus since the Union Cabinet approved three railway projects worth ₹7,927 crore. They include the likes of Jalgaon-Manmad fourth line, Bhusawal-Khandwa third and fourth lines, and Prayagraj-Manikpur third line.

Despite the recovery from the recent lows, the stock remain below their all-time high levels.