Shares of raliway-related stocks have witnessed a fabulous rally in recent trading sessions. Overall so far this calendar year, Titagarh Wagons and Rail Vikas Nigam were the top performers, up 87 per cent and 80 per cent, respectively. Texmaco Rail & Engineering surged 56 per cent, while Rites and Ircon International gained 43 per cent and 25 per cent, respectively.
Meanwhile, Indian Railway Catering and Tourism Corporation (IRCTC) was the only stock to have underperformed, down 10 per cent on a YTD basis.
The significant rally in railway stocks commenced in late August with select counters observing a significant jump in volume based buying. Specifically, Rail Vikas Nigam saw rise in daily volumes with the counter clocking the highest volume since November 2021. Likewise, RITES too experienced sharp spike daily volumes rise, a trend last seen in July 2020.
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First Published: Wed, November 16 2022. 12:05 IST