Shares of Rail Vikas Nigam Ltd. gained 9.6% to hit an intraday high of ₹354.25 apiece. The stock is also the top gainer on the Nifty Midcap index. RVNL have also snapped a four-day losing streak. The stock had declined 8.8% in the last four sessions.
Shares of RVNL are trading 9.5% higher at ₹353.95. The stock, with this move, has recovered nearly all the losses over the last one month.
Ircon International Ltd. shares gained 8.3% to hit an intraday high of ₹159.79 apiece. The stock had declined 7.05% in the last four trade sessions. The stock is up 8% higher at ₹159.43.
On the other hand, shares of RailTel Corporation of India Ltd
extended their gains for the second day on Monday. The stock gained 5.1% to hit an intraday high of ₹324.1 apiece. It was up 4% at ₹320.65 apiece.
IRFC shares snapped two consecutive days of losses and gained 7.6% on Monday, to hit the day’s high of ₹125.29 per share. The stock still trades at the highest point of the day.
IRCTC shares also gained as much as 6% on Monday as India and Pakistan agreeing to halt military activities resulted in a boost to travel and tourism stocks.
Railway stocks have moved in-line with the surge seen in the broader markets, as India and Pakistan halting military activities, US-China announcing progress in their trade talks have boosted sentiment on the street.
Most of these railway stocks have corrected between 30% to 50% from their all-time high levels, which they had hit in July and August of last year.
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