Railway Stocks Surge 7% in Anticipation of Union Budget 2024

Railway firms like IRFC and Ircon International surged over 7 percent ahead of the Union Budget 2024, as industry expectations are on the rise. Shares of railways related companies witnessed a massive spike on Wednesday, a week before Union Budget 2024.

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The current trend of the share market is likely to remain the same in the future. Although some volatility may be seen, the company’s stock price may reach ₹268.28 per share by the end of 2024.

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IRCTC Ltd.

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Indian Railway Finance Corp Ltd.

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The returns of IRCTC also surged nearly 50% in the last year. RailTel Corporation rose 4.9% in today’s trade. It has gained nearly 212% in the past 12 months.

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Ircon International emerged as the top gainer among major railway PSU firms in today’s trade, rising by 7.5% to Rs 247 apiece. The stock has also rallied 37% in January, and over 290% in the past year.

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This research serves educational and informational purposes only. It is not to be considered as a portfolio management service, basket recommendation, or investment advisory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

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