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Railway stocks on racetrack as investors place tactical bets

“Railway stocks are generally a tactical play. This means investors are buying these stocks as a short-term investment bet based on the anticipation of some announcement from the government,” said Awanish Chandra, Head of Equities, SMIFS.

November 28, 2022 / 12:27 PM IST
(Representational image)

(Representational image)

With investors lapping up shares of railway companies, some sector-specific stocks have been in the limelight lately. At 11:23am today, shares of Indian Railway Finance Corporation Ltd (IRFC), Rail Vikas Nigam Ltd (RVNL), Titagarh Wagons and Texmaco Rail and Engineering traded 5-10 percent higher on the BSE.

Shares of RVNL were locked in the upper circuit at Rs 80.30, while Titagarh Wagons stock was also locked in the upper circuit at Rs 186.35 on the BSE at 12 noon.

RVNL has given 96 percent returns in the past one month and IRFC has generated 51 percent.

In the past three months, shares of IRFC, RVNL, RITES, Titagarh Wagons, Texmaco Rail and Engineering, Railtel Corporation of India have rallied around 18-147 percent.