- By Aditya Pratap Singh
- Mon, 19 Feb 2024 11:44 AM (IST)
- Source:JND
Railway Stock: Shares of railway infrastructure major Rail Vikas Nigam (RVNL) rose nearly 12 per cent to Rs 281.30 in early trade on February 19, following the company's statement that its order book touched Rs 65,000 crore, with 50 per cent of them are railway projects.
In an investor call, The Rail Vikas Nigam said it is seeking new projects in offshore markets, which include Central Asia, UAE and West Asia.
The railway infrastructure company, in a statement, said that they have an order book of around ₹65,000 crore, which includes 50% from public railway projects and 50% from the market. Going forward, we need to maintain an order book of around ₹75,000 crore.
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Railway stocks have been doing well over the past year, driven by strong order inflows and ongoing changes in the railway sector. The stock saw a one-way spike, yielding an impressive 436% return, between March 2023 and January 2024.
Shares started their soaring journey in October 2022 and have gained 722% since then. In January 2024 itself, the stock is up nearly 70%.
IRFC Shares
Indian Railway Finance Corp (IRFC), another railway stock, rose above 3 per cent in early trade. The IRFC stock was trading at 161.35 up by 3.5 percent at around 11:39 am. In a week the shares soared over 7 per cent. Meanwhile, the 52-week high value has been at Rs 192.80 and the 52-week low value has been at Rs 25.40. Under a year the stock rose 455 per cent.
Disclaimer: The story is news on the recent performances of stocks. Jagran does not advise investing, please take proper consultation before investing.
