Market Performance
Railway stocks witnessed a strong rally on June 4, with several key players gaining between 3% to 12%. The surge comes amid increased government focus on infrastructure development and fresh project orders.
- Ircon International led the pack, soaring 12%—its most significant jump in 20 weeks.
- RailTel Corporation surged 12% after announcing a new data center partnership.
- Texmaco Rail & Engineering climbed 8%, while RVNL gained 7%.
- IRFC, Titagarh Rail Systems, and CONCOR rose around 3% each.
- BEML and IRCTC saw marginal gains.
Why Are Railway Stocks Rising?
1. Fresh Government Orders
- Ircon International secured an EPC contract worth ₹1,068 Crore from East Central Railway.
- RailTel partnered with Techno Electric & Engineering to build a 10 MW data center in Noida.
2. Strong Economic Growth
India's GDP growth hit 7.4% in Q4 FY24, the highest in four quarters. Government-led infrastructure spending has been a key driver, boosting investor confidence in railway stocks.
Key Players & Their Recent Moves
Key Players & Their Recent Moves
Company | Key Development | Stock Gain ) |
Ircon | New ₹1,068 cr EPC order | 12% |
RailTel | 10 MW data centre project | 12% |
Texmaco Rail | Strong order pipeline | 8% |
RVNL | Infrastructure push | 7% |
IRFC, Titagarh, CONCOR | Sectoral momentum | ~3% |
Summary
Railway stocks like Ircon, RailTel, RVNL, and Texmaco surged up to 12% on June 4, driven by new project wins and strong economic indicators. With the government prioritizing infrastructure, these stocks remain in focus for investors.
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