• Source:JND
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Railway stocks like IRFC and RVNL have been performing well for the last 2 years. The continuous rally in the prices of IRFC and RVNL has given multiple-fold returns to its investors. Reforms like electrification, the launching of new trains like Vande Bharat and Tejas, and the renovation of railway stations across the nation, have been fueling the rally of the above stocks. But, On June 4, the stock market suffered a huge loss, and so did the railway stocks, after the Bharatiya Janata Party failed to gain a majority mark on its own in the Lok Sabha election of 2024. Now BJP is dependent on its allies to form the government, and this triggered a narrative that the Narendra Modi 3.0 government might not be that aggressive when it comes to introducing reformative schemes. However, After it became clear that Narendra Modi would be Prime Minister for the third time, the market started recovery on Wednesday. 

Railway stocks  fall up to 33% on election result day

Following the narrow election victory of Prime Minister Narendra Modi's coalition, railway stocks plunged sharply, with some falling by as much as 33% over the previous two days. Titagarh Rail Systems shares dropped by almost 33%, while Ircon International shares fell by more than 26%. Shares of RailTel and IRCTC also decreased by more than 19% over the previous two days. Other rail companies like RITES, IRFC, RVNL, Texmaco Rail Systems, and Jupiter Wagons saw declines of 18-23%. On Wednesday, railway stocks dropped by as much as 17%.

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Stock market recovery

After a bloodbath' on June 4 i.e. Tuesday, the market continued recovery from the very next day. On Wednesday, Sensex and Nifty surged over 3 percent and the market is in a recovery mood on Thursday as well. The recovery is fueled by low-level buying and surety on the National Democratic Alliance (NDA) forming the government.

IRFC Shares price surge over Rs 20/ Share

The shares of IRFC surged over 4 percent on Thursday to trade over Rs 173 per share on NSE. In the last 6 trading sessions the stock fell over 3 percent, on June 4 the stock plunged below Rs 152 per share. In the last two days, the Railway stock bounced back over 20 rupees per share. Meanwhile, Its 52-week low value stood at Rs 31.8/Per Share and its 52-week high value stood at Rs 200 per share.

IRFC Performace

In the last 30 days - The stock surged over 12 percent
In Last 12 months - The stock surged over 446 percent

RVNL

The stock price went down to a level of Rs 324/share on June 4 amid a heavy fall in the market. In the last two sessions, the price of the shares jumped up to the level of Rs 370/ share. In the last 30 days, the railway stocks jumped over 34 percent, while in a year it has jumped up by 214 percent.

Also read: Stock Market: Domestic Indices Continue Recovery; Sensex, Nifty Surge Over 1% In Early Hours

Disclaimer: This story is only news about the recent performance of stocks, Jagran does not advise to investing. Please consult with experts before investing.