• Source:JND
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Railway Stocks:  The stock market has made a shaky start on the first trading day of the week. However, the trend of an upswing in railroad stock has continued today as well. The shares of Ircon International, Rail Vikas Nigam Limited, and Indian Railway Finance Corporation witnessed a sharp rise on Monday morning. IRCTC shares also rose by 2 percent as well.

Rail Vikas Nigam, IRFC, IRCON Stocks Surged

Rail Vikas Nigam shares opened at Rs 508.30 on the BSE on Monday and rose to a lifetime high of Rs 567.60 during the trade hours. The stock surged over 15 percent. Meanwhile, Ircon International shares opened at Rs 313.20 rose by 8 percent at one point, and reached a 52-week high of Rs 334.35. IRFC stock, which has performed admirably in the last year, rose by 9 percent to surpass the level of Rs 200 per share. 

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Why are railway stocks rising?

On Monday, the rise in the shares of railway-listed companies was followed by a government plan to construct 25,000 new general passenger coaches, and 1,000 additional coaches. Union Railway Minister Ashwini Vaishnav has announced the construction of 50 new Amrit Bharat trains. In addition, the government is likely to make a major announcement for railways.

In the last, 2-3 years, stocks like IRFC, and RVNL have been multi-bagger for the investors.

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