IRFC, RVNL, IRCON: 3 Railway Stocks Give 10-18% Returns In 1 Day After Q3FY24; Up 320-500% From Lows

The majority of railway stocks traded on a bullish note in February, however, there were three of them that outperformed its sector and overall market. They are IRFC, RVNL and IRCON International. These three stocks are in focus after their Q3 results. Also, they are seeing strong bulls after a week of selling. In a single day, these three stocks give 10-18% returns, while they trade higher by 320% to 500% from their 1-year lows. One of them is also going to turn ex-dividend later in the week.

IRFC Share Price:

On February 13, IRFC shares touched an intraday high of Rs 156.25 apiece, rising by 17.5% in a single day on BSE. IRFC was the top-performing railway stock on Tuesday.

After market hours, the share price closed at Rs 153.40 apiece, up by 15.34% on BSE.

Nonetheless, IRFC's share price is up by 503% from its 52-week low of Rs 25.45 apiece. Its 52-week high is at Rs 192.80 apiece.

During the third quarter of FY23, the largest railway company in terms of market share, registered a net profit of Rs 1,602.23 crore, down by 1.8% from PAT of Rs 1,633.45 crore in Q3FY23, but gained by 5.4% from the profit of Rs 1,549.87 crore in Q2FY24. Revenue revenue was at Rs 6,741.86 crore, up by 8.4% YoY but down by 0.36% QoQ. The revenue was driven by interest income which came in at Rs 2,334.84 crore in Q3FY24.

In 2023, IRFC paid dividends up to 15% aggregating to Rs 1.5 per share. The company did not declare any dividends after Q3.

Rail Vikas Nigam Share Price:

RVNL was the second best-performing railway stock on February 13. On this day, the stock zoomed by 11.6% to touch an intraday high of Rs 256.35 apiece, before closing at Rs 245.60 apiece up by 6.9% on BSE. RVNL's market cap is at Rs 51,208.09 crore.

The share price of RVNL is currently trading higher by 337.4% from its 52-week low of Rs 56.15 apiece. Its 52-week high is at Rs 345.60 apiece.

In Q3FY24, the company reported a net profit of Rs 358.57 crore, down by 6.24% from the profit of R 382.42 crore in the same quarter a year ago. While the Q3FY24 PAT dipped by 3% from Rs 394.10 crore recorded in Q2FY24. Moreover, RVNL's revenue dipped by 6.43% YoY and 4.6% QoQ to Rs 4,689.33 crore.

Just like IRFC, RVNL also did not declare any dividends after Q3 results. RVNL last year paid dividends up to 21.30% amounting to Rs 2.13 per share.

IRCON International:

IRCON was the third best-performing stock of February 13 in the railway sector. The stock gained as much as 9.7% in the day with an intraday high of Rs 213.30 apiece on BSE. After market hours, the stock ended at Rs 211 apiece, up by 8.5% with a market cap of Rs 19,844.88 crore.

From its 52-week low of Rs 50.15 apiece, IRCON is currently trading higher by 320.74%. Its 52-week high is Rs 280.90 apiece.

IRCON also declared its Q3 earnings along with interim dividend announcements last week. In Q3FY24, the company's revenue from operations during the quarter increased by 22.9% to Rs.2,884.2 crore as against Rs.2,346.5 crore in Q3FY23. While EBITDA was at Rs.378.1 crore, an increase of 63.2%, as compared to Rs.231.7 crore in Q3FY23. The Company's EBITDA margin stood at 12.6%. Further, Profit After Tax increased by 28.8% to Rs.244.7 crore in Q3FY24 as against Rs.190 crore in Q3FY23.

IRCON declared an interim dividend of Rs.1.80 per equity share on the face value of Rs.2/- each (90% of the paid-up equity share capital) for the financial year 2023-24.

The company fixed February 16 as the record date for determining eligible shareholders, while it will pay the dividends by Tuesday, 27th February 2024 onwards.

Disclaimer: The write-up highlights stock performances and dividends, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.