Railways Stocks That Are In Focus Ahead Of Union Budget 2024: IRCTC, IRFC, RVNL, Ircon

Shares of Railway companies including Indian Railway Catering and Tourism Corporation (IRCTC), Rail Vikas Nigam Limited (RVNL), Indian Railway Finance Corporation (IRFC), and IRCON International hit their new 52-week highs on Friday. Railways stocks will remain in focus in the coming days as the government is all set to announce the Union Budget 2024 next month. Union Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on Feb 1, 2024.

On January 12, 2024, the share price of Indian Railway Catering and Tourism Corporation Ltd traded at a new 52 Week High value of 962.25 per share. Before this, IRCTC shares traded on a new 52 Week High value of 951.55 on Jan 11. Shares of Indian Railway Finance Corporation Ltd traded on new 52 Week High value of 114.00. Earlier, the stock hit new 52 week high value on Jan 11 at 109.30 per share. The share price of IRCON International Ltd traded at a new 52 Week High value of 199.35 on Friday. Rail Vikas Nigam Ltd shares traded at a new 52 Week High value of 207 per share on January 12.

The Indian government has already declared a fresh investment of around Rs 7 lakh crore for the development of rail infrastructure. Market experts believe that in the upcoming budget 2024, the government will focus on focus on the infrastructure sector, which is expected to benefit the railway PSU companies. The government is expected to declare a fresh infusion for the development of railway infrastructure. Besides, the railway companies are likely to report strong Q3 results.
IRCTC share price performance:

IRCTC shares last closed 1.18% higher at Rs 951.30 per share. The stock has gained 53.31% in the last six months. The last one year, 2-year, and 3-year returns from IRCTC shares have gained 48.50%, 10.47%, and 221% respectively.

IRFC share price performance:

IRFC shares last closed 6.09% higher at Rs 113.38 per share. The stock has gained 243.89% in the last six months. The last one year, 2-year returns from IRCTC shares have gained 245.67%, and 391.89% respectively.

IRCON share price performance:

IRCON shares closed a tad higher at Rs 195.05 per share on Friday. The stock has gained 243.89% in the last six months. The stock has gained 139.24% in the last six months. The last one year, 2-year, and 3-year returns from IRCTC shares have gained 225.35%, 322.64%, and 326.53% respectively.

RVNL share price performance:

The share price of Rail Vikas Nigam Ltd last closed 1.63% higher at Rs 203.10 per share. The stock has gained 68.34% in the last six months. The last one year, 2-year, and 3-year returns from IRCTC shares have gained 167.94%, 468.91%, and 518.26% respectively.