These 2 rail-related stocks have zoomed over 75% thus far in Jan

IRFC with market capitalisation of Rs 2.3 trillion today surpassed other state-owned companies like Power Grid Corporation (Rs 2.23 trillion), IOCL (Rs 2.11 trillion) and HAL (Rs 2.01 trillion).

Shares of Indian Railway Finance Corporation (IRFC) at Rs 176 and Rail Vikas Nigam Limited (RVNL) at Rs 320.75 continued their northward bound movement, surging 10 per cent and hitting respective new highs on the BSE in Saturday’s intra-day trade.

Thus far in the month of January 2024, both these stocks have zoomed 77 per cent on expectations of higher budgetary allocation for Indian Railways in 2024-25 (FY24-25).

A sharp rally in stock price of IRFC has seen the company’s market capitalisation of Rs 2.3 trillion overtake that of other state-owned companies like Power Grid Corporation of India