IRCON SHARES
30 defence, other PSU stocks in bear grip. Will the multibagger magic end?
After a robust performance, 30 PSU stocks have entered the bear market, prompting mutual funds and FIIs to reduce stakes. Despite strong government reforms bolstering these stocks, experts indicate current valuations are high and a correction period may be necessary. PSUs with high capital efficiency may continue to attract investors.
Party over? As Nifty Smallcap 100 falls over 4% in one month, 58 stocks get hammered up to 23%
The decline in smallcaps has been widespread across various sectors. However, the pharmaceutical sector, typically seen as a defensive haven during market downturns, has bucked the trend with many stocks performing well. Among the hardest hit in the 100-stock index is Birlasoft, experiencing a 23% drop. State-run shipping companies, Ircon International and Cochin Shipyard, have also suffered significant losses of 22% and 20%, respectively.
Railway, PSU, and IT stocks most vulnerable to market downturns, warn experts. Here's what they recommend instead
The Nifty has dropped nearly 4% from its peak of 25,078. Experts warn that railways, IT, metals, PSU stocks, and export-oriented sectors might be the most affected if deeper corrections occur. Contributing factors include high valuations, a potential US economic crisis, yen carry trade reversals, and geopolitical tensions.
Budget 2024: Rail stocks tumble up to 8% as Budget fails to impress sector
Shares of railway stocks fell up to 8% on BSE today after the Union Budget disappointed the Street, with no sector-specific announcements or allocation by the Finance Minister Nirmala Sitharaman.
Rail, defence, PSU stocks in focus ahead of Budget
Railway, defence, and PSU stocks on BSE rose ahead of the Union Budget by the Finance Minister. RailTel up 3%, Cochin Shipyard and DCX Systems gained, while Titagarh Rail, Texmaco Rail mixed. PSU stocks: IRCTC, IRFC, OIL, GMDC, Mazagon Dock, Bharat Forge, LIC, BEML, NTPC, Gujarat Gas, RCF, NMDC Steel. Multibagger returns seen; MRPL declined 3.7%.
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RailTel shares jump 11%, hit fresh 52 week high; multibaggers IRFC, Ircon join party with new peaks
RailTel Share Price: Railway stocks including Railtel Corporation of India, Ircon International, and IRFC are surging to new highs as the market anticipates the Modi 3.0 government's budget announcement on July 23.
RVNL, REC among BSE500 stocks defying today's market downtrend
Despite gains for RVNL, CAMS, and REC, the bearish market saw Sensex and Nifty crashing. RVNL gained 8%, CAMS 4%, and REC over 3%. Mahindra & Mahindra fell 7%, signaling weak auto demand. Media, PSU banks, real estate, and oil and gas sectors suffered. Sensex and Nifty's crash impacted smallcaps significantly.
RVNL shares rally 10% on receiving LoA from Nagpur Metro
Rail Vikas Nigam's stock surged 10% to Rs 598 after securing a contract for six Nagpur elevated metro stations, including Kanhan River. Completion is in 30 months. The FY25 order inflow targets Rs 20,000-25,000 crore, and it possesses an Rs 85,000 crore order book. Market capitalization reached Rs 1.11 lakh crore, post revenue growth of 17.4%.
RVNL now valued more than Ircon, 4 other rail stocks combined
Among the above-mentioned peers, RVNL is followed by Ircon International with a market capitalization of Rs 29,179.5 crore, Jupiter Wagons and Titagarh Rail Systems with a market cap of Rs 28,965.69 crore and Rs 23,920.08 crore respectively.
RVNL, IRFC among railway stocks that rally up to 16% ahead of Union Budget
Railway stocks, including RVNL and IRFC, reached new peaks before the upcoming Union Budget. Positive sentiment surrounds RVNL after signing MoU with DMRC. Other companies like Texmaco Rail and RailTel also saw significant gains. Finance Minister to present budget on July 23, with focus on targeted spending.
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 27.45 points down at 24296.4
Railway stocks surge up to 17% on order boost
Railway stocks surged as Minister Ashwini Vaishnaw announced 12,500 new coaches, and RVNL partnered with Delhi Metro Rail. IRCON, BEML, Railtel, Texmaco Rail Engineering, and IRFC saw gains.
Share market update: Most active stocks in today's market in terms of volume
The NSE Nifty index closed 21.7 points up at 24323.85
RailTel, IRCTC among railway stocks rallying up to 9%. What’s the trigger?
Railway stocks like RailTel, IRFC, RVNL, Ircon International, and Titagarh Rail Systems surged up to 9% on BSE today amid positive news flow.
TRADERS’ CORNER: A railway stock gets ready for an 11% upmove, while a defence stock is not behind with 9% swing trade
All the old boys are back into momentum territory
RITES shares rally 4% on signing MoU with DMRC
Shares of Rail India Technical and Economic Service (RITES) surged by 4% to reach the day’s peak of Rs 708 in today’s session on the BSE. This increase followed the company's announcement of signing a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation (DMRC)
Railways stocks tank up to 33% in 2 days following narrow BJP-led NDA's election win
In today's trade, railway stocks fell by up to 17%. Titagarh Rail shares tumbled 33%, while Ircon declined by over 26%. Meanwhile, RailTel and IRCTC also fell by over 19% in the past two sessions. Shares of RITES, IRFC, RVNL, Texmaco Rail Systems, and Jupiter Wagons saw declines of between 18-23%.
‘Make in India’ under a cloud takes shine off manufacturing
Investors sold manufacturing and infrastructure shares amid concerns over the BJP-led coalition government's performance in the elections, impacting stock indices and specific companies. Analysts suggest a cautious approach towards investments in these sectors.
Railway stocks tank 20% as election trends diverge from exit polls
Railway firm stocks plummeted up to 13%, as election trends diverged from exit polls. Rail Vikas Nigam dropped nearly 13%, with Ircon International down by 12%. Other firms like RailTel, IRFC, Texmaco, and IRCTC fell 6-10%. Titagarh Rail Systems and Jupiter Wagons also saw declines. Early data showed the BJP-led NDA leading in 289 seats, contrary to exit polls projecting over 370 seats.
BSE PSU Index down 14% amid election result nervousness. PFC, REC,BHEL among top losers
The S&P PSU Index plunged by 14% during the Lok Sabha election vote counting, with major PSU stocks like PFC, REC, and BHEL experiencing significant drops in early trade sessions.
FII and retail positioning ahead of election results look scary, warns Rupak De of LKP Securities
"A favorable outcome for BJP is likely to take the index on a wild ride towards 23,500. However, at this juncture, 24,000 appears slightly unlikely, at least in the 4-5 trading sessions."
Ircon International Q4 Results: Net profit rises over 15% YoY to Rs 286 crore
Ircon International Ltd on Tuesday said it has posted a 15.1 per cent growth in its profit after tax at Rs 285.68 crore during the March 2024 quarter. It had clocked Rs 248.18 crore profit after tax (PAT) during the January-March quarter of the 2022-23 financial year, Ircon International said in a statement.
PSU railway stocks rally up to 8%. What’s the good news?
Shares of railway PSU stocks RVNL and IRFC surged on Tuesday, with RVNL jumping 8% to Rs 322 and IRFC rising 5% to Rs 181 on the BSE. This rally was triggered by the Q4 profit growth reported by these companies. Additionally, IRCON International shares soared 8% to a new high of Rs 296 ahead of its Q4 results, scheduled for release today.
Ircon International shares jump over 6% on Rs 1,198 crore order win
IRCON International secured a letter of award (LoA) from the National Highways & Infrastructure Development Corporation (NHIDCL) for the construction of a tunnel in Mizoram valued at Rs 630.66 crore.
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