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Santa rally for Railway stocks | Tactical bets ahead of upcoming Union Budget spur buying

An upmove in these stocks is largely due to tactical buying ahead of the upcoming Union Budget. Additionally, decent growth visibility because of a likely increase in railway capital expenditure has also propped up sentiment for the sector.

December 29, 2022 / 06:59 PM IST
The IT index has been one of the big under-performers with a decline of over 24 percent in the same period. (File image)

The IT index has been one of the big under-performers with a decline of over 24 percent in the same period. (File image)

 
 
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There seems to be an early Santa rally for railway stocks with investors rushing to buy shares of Rail Vikas Nigam Ltd (RVNL) and Indian Railway Finance Corporation Ltd (IRFC).

An uptick in these stocks is largely due to tactical buying ahead of the upcoming Union budget. Additionally, decent growth visibility because of a likely increase in railway capital expenditure has also propped up sentiment for the sector, according to market participants.

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