Railway-related stocks rally up to 18%; IRFC m-cap crosses Rs 2 trillion
Shares of railway-related companies were on a roll and rallied up to 18 per cent on the BSE in Friday’s intra-day trade on heavy volumes amid expectation of higher budgetary allocation for Indian Railways in 2024-25 (FY24-25).
An outlay of Rs 2.4 trillion for the financial year 2023-24 (FY23-24) was made by Finance Minister Nirmala Sitharaman for the railways. According to reports, the interim budget FY24-25 will likely allocate Rs 2.8-3 trillion for the railways to keep its capex momentum intact. Rail Vikas Nigam (RVNL), Indian Railway Finance Corporation (IRFC), IRCON International, NBCC (India), RailTel Corporation of India and Texmaco Rail & Engineering were up in the range of 5 per cent to 18 per cent.
