IRFC, RVNL, IRCTC, IRCON: Why these railway stocks are gaining today
Shares of railway sector stocks rose sharply on Tuesday, with Indian Railway Finance Corporation jumping over 5%, followed by significant gains in Rail Vikas Nigam Limited, IRCON International, and Indian Railway Catering and Ticketing Services. Shares of RVNL also surged sharply by around 3.5% to Rs 430.45 after receiving a letter of acceptance from South Central Railway worth Rs 294.4 crore. “Engineering Procurement Construction Contract of Doubling of Track between Navipet Station from Km 446.900 to Indalvai Station Km 482.900, {Excluding Nizamabad Yard from Km 458.825 to 461.125 } including Electrification and Signalling works in South Central Railway in connection with the Mudkhed-Medchal Doubling Project in the State of Telangana,” RVNL said in an exchange filing. Shares of IRCON International also rose 4.17% to Rs 192.15 during the trading session, tracking gains in the other major railway stocks mentioned above.
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