Railway PSUs see broad rally
On Wednesday, shares of several railway‑related public‑sector undertakings (PSUs) posted notable gains, with the sector’s overall advance reaching as high as 14% during the session. Heavy trading volumes underpinned the move, indicating heightened investor interest.
IRCON International leads the surge
IRCON International was the standout performer, jumping 20% to close at Rs 122.96, a price level not seen in the previous month. By early afternoon the stock was still up 14% after a modest pull‑back as some investors booked profits at the higher levels. The rally reversed a four‑day slide that had seen IRCON fall about 7%.
Trading activity was robust: 626.02 lakh IRCON shares changed hands by 2 pm, representing a turnover of roughly Rs 732.20 crore. The volume surge suggests that both institutional and retail participants were active in the trade.
Other railway stocks follow suit
Indian Railway Catering and Tourism Corporation (IRCTC) also posted gains, climbing around 2% with more than 6 lakh shares traded and a total value of Rs 28.05 crore. Container Corporation of India added over 2% to its price, while Rail Vikas Nigam Ltd (RVNL) moved in line with the sector’s upward bias.
In contrast, Indian Railway Finance Corporation faced selling pressure and ended the day lower, highlighting that the rally was not uniform across all railway‑linked entities.
Market backdrop
The broader market context included a mixed sentiment across sectors, but the railway PSU group benefitted from speculation around potential policy support, infrastructure spending, and upcoming fiscal allocations for the rail network. The sharp rise in IRCON, after a recent dip, points to a possible shift in market perception of its earnings outlook.
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