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- By Aditya Pratap Singh
- Tue, 04 Mar 2025 11:15 AM (IST)
- Source:JND
Railway Stocks Today: The shares of Indian Railway Finance Corporation Ltd (IRFC) soared nearly 4% in morning trade on Tuesday after getting prestigious Navratna status from the central government. The Union government has also upgraded IRCTC as Navaratna, the shares of the company were trading a bit higher today as well.
At around 10:51 am, the shares of IRFC were trading at Rs 114.57, up 3.10 percent against the last session's closing price of Rs 11.13 on NSE. Meanwhile, IRCTC stock was at 677.10, up 0.07 percent compared to the last session's closing price of 676.60.
The government on Monday conferred deemed status of Navaratna Central Public Sector Enterprise (CPSE) to Indian Railway Finance Corporation (IRFC) and Indian Railway Catering and Tourism Corporation as the performance of the two companies has improved to meet the required eligibility criteria on key parameters like net profit and net assets.
Also Read: Railway Stocks: IRFC Shares Zoom Nearly 4% On Navratna Status; IRCTC Trades In Green
The new Navaratna status will give these companies greater autonomy in financial decision-making, allowing them to invest up to Rs 1,000 crore without government approval. This will expedite their decision making for further development plans.
IRFC Stock Performance- The multibagger stock has been volatile for the past 12 months. It plunged over 23 percent in the last 12 months while slipping over 16 percent in the last 30 days. Meanwhile, the IRFC shares shrank over 7% in the last 5 days.
IRCTC Stock Performance- The shares of the railway stock have been experiencing selling pressure for the last one year. It has plunged over 27.5 percent in the last 12 months, while slipping over 14% in the last 30 days. The stock plunged over 5 percent in the last 5 days as well.