The average trading volumes on the counter jumped three-fold as around 32.98 million shares changed hands on the NSE and BSE
A joint venture of Russian firm Transmashholding (TMH) and RVNL emerged as the lowest bidder for the manufacture and maintenance of 200 lightweight Vande Bharat trains.
As per analysts at Centrum Broking, the stock of HG Infra has headroom to re-rate as the company is continuing to deliver on growth and monetisation targets
Rail Vikas Nigam, Titagarh Wagons and Texmaco Rail & Engineering may soar up to 18 per cent in coming sessions
Volumes spurt were significantly higher during strong positive closes than during negative sessions.
On Wednesday, January 11, RVNL announced that the company bagged a Chennai Metro Rail project worth of Rs 1,134 crore and the project has to be completed in 1,065 days.
Stocks to Watch: IT shares are likely to be in focus after Infosys and HCL Technologies reported stronger than expected Q3 results; and Wipro scheduled to report earnings on Friday.
IRCTC has consistently faced resistance around the Rs 800-mark; break below Rs 660 can further weaken the stock, chart indicates.
Railway stocks: In the upcoming budget, the railways has reportedly sought gross budgetary support (GBS) of Rs 1.5-1.8 trillion over the Rs 1.37 trillion figure earmarked during Budget 2022-23
Shares of Rail Vikas Nigam hit a new high at Rs 79.70 on rallying 9 per cent in Monday's intra-day trade on healthy business outlook.
So far in 2022, Titagarh Wagons and Rail Vikas Nigam have zoomed 87 per cent and 80 per cent, respectively. Texmaco Rail and Rites too logged smart gains. IRCTC is the sole underperformer.
In the past three months, the stock price of RVNL has zoomed 90 per cent, as compared to a 3 per cent gain on the Sensex.
Shares of RITES were up 6 per cent at Rs 433.20 in intra-day trade, surging 15 per cent in the past two days, while RVNL surged 9 per cent to surpass its previous high of Rs 44.75