Railway shares on a roll! These 4 stocks hit 52-week high; here's why

Shares of four railway companies, including IRFC Ltd, Rail Vikas Nigam Ltd (RVNL), IRCON International, and RailTel, surged up to 15% during the intra-day trade today. The development came as Union Minister of Railways, Information and Broadcasting, Electronics and IT, Ashwini Vaishnaw, last Friday i.e. July 5, 2024, said the India Railways has planned to manufacture 10,000 non-AC coaches in the next two years. The minister also announced 50 new Amrit Bharat Trains, which fulled the rally in the railways stocks today.

Shares of state-owned financial institution IRFC Ltd hit a 52-week high at ₹206 on the BSE today after opening a gap up at ₹192.70. The counter witnessed high volume trade on Monday as 2.4 crore shares were changing hands against the two-week average of 40.55 lakh. At the current share price of ₹202.10 (01.35 PM), the company's m-cap is at ₹2.63 lakh crore.

A multi-bagger stock, IRFC shares have seen a 5-fold rise in its price in the past year. In this calendar year alone, the stock has witnessed a 110.25% rise, while its six-month rise is 101.10%. In the past month and past week, the scrip has seen 16.13% and 16.62% surge, respectively.

Another PSU and civil construction company, Rail Vikas Nigam Ltd, has seen its share price hit a 52-week high today. The stock opened a gap up at ₹508.30 and hit a one-year high at ₹567.75. At 1.30 PM, the stock was trading 14.58% up at ₹561.85 on the BSE as 1 crore shares were changing hands on the counter against 26.4 lakh average in the past two weeks. At the current share price, the company's m-cap stands at ₹1.18 lakh crore.

RVNL share has also been a multi-bagger, fetching a 362.17% return in the past year. Its year-to-date return stands at 210.33% and 209.83% in the past six months. The share has surged 50.96% and 36.42% in the past month and past week, respectively.

Another civil construction company IRCON International Ltd, a wholly owned entity of the Indian Railways, saw its share price hitting a 52-week high at ₹334.35. The company's m-cap at the current trading price of ₹325.90 stands at ₹30,670.22 crore. IRCON share has seen a 296.84% rise in the past year while giving an 87.14% return in the year-to-date period. In the past six months, one month and the past week, the share has surged 82.12%, 29.90% and 20.04%, respectively.

Shares of other telecom services operator RailTel Corporation of India also hit a 52-week high at ₹559.35 on the BSE, up 6.9% compared to the previous session. At the current share price of ₹537.75, the company's m-cap stands at ₹17,258.46 crore. RailTel has given 309.25% return in the past year; 52.24% in the year-to-date period; 54.90% in the past six months; 39.85% in the past month; and 14.57% in the past week. Formed in September 2000, RailTel provides broadband and VPN services to modernise the train control operation and safety system of railways.

Shares of the tour, travel and catering arm of the Indian Railways, IRCTC, on the other hand, saw a mild rise in its share price at ₹1,037.95, up 1.16%, on the BSE. Railway wagons company Titagarh Rail Systems Ltd saw a decline in share price at ₹1,816, down 0.74% on the BSE.

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