RVNL, IRFC among other railway stocks rally up to 16% ahead of Union Budget

Meanwhile, the shares of other railway companies also soared high to touch their new peaks today. Shares of Texmaco Rail & Engineering rose 8.3% to its new 52-week high of Rs 295.65, while those of RailTel surged 7.5% to its new peak at Rs 559.35.

and shares also jumped up to 6.64% to their new highs while shares went up by 4.5% on BSE to the day’s high of Rs 797.
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In the last one year, have highly benefited their investors giving multibagger returns. IRFC has given returns of 505%. RVNL and RailTel have gained over 300% on charts while Ircon International, Texmaco Rail and Oriental Rail Infrastructure have increased by over 200%. Meanwhile, RITES shares have increased by 104% in the same time period.

Finance Minister Nirmala Sitharaman will be presenting the Union Budget that will lay the roadmap of Modi 3.0 on July 23 in Lok Sabha. The Parliamentary session for the Budget will commence on July 22 and continue till August 22.

The government is likely to also primarily focus on targeted spending for the middle class, women, and the agricultural sector

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