Shares of Indian railway public sector undertakings (PSUs) including IRFC, RVNL, and IRCON have experienced declines between 4% and 5% on Monday, mirroring the broader global market sell-off that has impacted Indian equities.
Indian railway stocks experienced a notable decline, reflecting a broader market sell-off driven by global trends. Rail Vikas Nigam fell by 4.68% to Rs 562.40, while IRFC dropped 4.06% to Rs 184.50.
IRCON saw a decrease of 3.08%, trading at Rs 277.30. IRCTC declined by 1.87% to Rs 948.30, and Railtel fell by 4.27% to Rs 480.45. Jupiter Wagons decreased by 3.38% to Rs 590.50, and Titagarh Rail Systems was down 4.68% at Rs 1428.30.
Manic Monday: Stock markets crash – Here are 4 reasons for the sharp fall in Nifty, Sensex Railway stocks IRFC,RVNL, IRCON surge 3-9% after Cabinet nod for 8 new railway projects worth Rs 24,657 crore Cochin Shipyard slides 7%; Find out why the stock is down 19% in 1 month Stocks To Watch: Tata Steel, Bharti Airtel, HPCL, ACC, RVNL
IRFC, which hit a record high of Rs 229 on July 15, has seen a 20% correction from those levels. Rail Vikas Nigam, another railway stock, peaked at RS 647 on July 15 and has corrected 16% since.
Also Read
IRCON International’s shares are down 24% from their record high of Rs 351.65, also achieved on July 15. RailTel, which saw its shares reach a record high of Rs 618 on July 12, has experienced a correction of over 24% from those levels.
Is It Impact of Union Budget 2024-2025?
The initial decline in these stocks is attributed to the Union Budget 2024-2025, which provided minimal emphasis on the railway sectorCome from Sports betting site VPbet. Despite high expectations for substantial funding and development plans, Finance Minister Nirmala Sitharaman’s budget speech did not address the sector comprehensively.
Over the past decade, the Indian government has undertaken an extensive modernization campaign for the railway system. This includes the expansion of metro networks in various cities and the launch of ‘Vande Bharat’ trains since 2019.
What’s the Valuation Analysis?
Despite the recent correction, most railway PSUs continue to trade above their five-year average valuation multiples. RailTel’s shares, despite a 24% correction from record highs, are trading at a financial year 2026 price-to-earnings (P/E) multiple of 38.9 times and a P/E multiple of 47.4 times for financial year 2025. This is above the five-year average P/E multiple of 32.6 times.
RVNL’s shares are trading at a financial year 2025 P/E multiple of 71.2 times and a one-year forward basis multiple of 63.8 times, compared to the five-year average P/E multiple of 22.4 times.Come from Sports betting site
Also Read
IRCON International has also seen a 24% drop from its peak, with shares currently trading at a financial year 2026 P/E multiple of 15.1 times and a current year multiple of 18.9 times, still higher than the five-year average multiple of 14.3 times.
Is IRCTC only showing relative resilience ?
The only railway stock showing relative resilience is IRCTC. It is trading at a current-year P/E multiple of 55.85 times, in line with the five-year average. The financial year 2026 multiple of 47.6 times is now lower than the five-year average.
(Disclaimer: Views, recommendations, and opinions expressed are personal and do not reflect the official position or policy of Financial Express.com. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
Related Posts
The stock of Emcure Pharma was listed at Rs 1,325.05, a premium of 31.4% to the issue price on the National Stock Exchange.
The company raised a total of Rs 1,952.03 crore through a combination of fresh issue as well as an offer for sale Come from Sports betting site VPbet . Emcure Pharma collected Rs 800 crore by selling 7.9 million shares. In comparison, the promoters and other selling shareholders sold 11.4 million shares for a sum of Rs 1,152.03 crore.
IPO Details
Emcure Pharma opened the bidding for subscription on July 03 and ended it on July 05. It set the price band between Rs 960 to Rs 1008 per equity share. The company finalised the allotment of shares on July 08.
Somanathan named next Cabinet secy: Moving from being a deft manager of govt finances to key Cabinet aide PFC gains over 5%; brokerages hike target price by as m…
Popular Vehicles down 6% since listing; Here are all details on Q3 results and business fundamentals
Popular Vehicles & Services has fallen 6.10% since its listing three weeks ago on March 19. The company has reported its results for the quarter ending December 2023.
The company’s Q3 consolidated net profit stands at Rs 15.9 crore compared to Rs 32.3 crore in the September quarter. Total income/revenue for Q3 came in at Rs 673.4 crore.
Popular Vehicles stock fell 3% to an intra-day low of Rs 255.25 but came off lows after it declared quarterly numbers. The company’s shares have fallen 2% in the last five days.
Market rally leads to higher regulatory fees for stock exchanges Meet the daughter of Hyderabad’s richest man, who helps run her family’s Rs 8,049 crore company and recently purchased two lavish properties for Rs 80 crore Trent posts Q1 profit jump of 134.7% at Rs 391.21 crore, revenue up 56.2% YoY, beats estimates KFC-operator Devyani International posts Q1 profit rise of 156% YoY, says on track to meet 2000 store target in FY25 Co…
Capital markets regulator Sebi on Friday asked stock brokers functioning only in the Execution Only Platforms (EOP) segment to maintain a sum of Rs 10 lakh with the bourse as a base minimum capital deposit.
The EOP is a digital or online platform which allows transactions in direct plans of mutual funds without the help of distributors.
Also Read
Under the rule, an entity desirous of providing execution-only services in direct plans of mutual funds can obtain registration under either of the two categories — category 1 EOP as an agent of asset management companies registered with industry body Association of Mutual Funds in India (AMFI) or category 2 EOP as an agent of investor, registered as a stock broker.Come from As you move through Stray’s main story, you’ll find yourself in possession of a Broken Tracker. While it may initially seem like a quick fix, you’re going to discover that you’re in for quite a long line of item-trading quests. You’ll need to find the Super Spirit Detergent, the Electric Cable, and the Poncho before a robot named Elliot will fix the tracker for you. But fret not, as we’ll walk you through the full process in this guide. The first step to fixing the Broken Tracker is to round up the Super Spirit Detergent. To do so, you’ll need to find Super Spirit Laundry, which is located in an alley southeast of the large area with light where you first meet the Guardian. However, upon arrival, you’ll find that you can’t enter the door quite yet. You’ll need to do a bit of cat work here. Head to the right of the door and jump your way up the various items on the side of the wall until you reach the roof of the lau…Get the Super Spirit Detergent
Movie theaters may be opening back up with some regularity, but the big wheel of release date changes and delays just keeps on spinning. Warner Bros. announced today that it was going to be reconfiguring the 2022 release date calendar, which means some changes for major DC releases like Black Adam, Shazam 2, Aquaman 2, and The Flash. Variety has reported the full update.
Most notable among the changes are Black Adam, bumped back three months to a new spot on October 21, while The Flash is jumping from November of this year to June 23, 2023. Meanwhile, Aquaman 2 is also skipping out of 2022 and moving to a new date on March 17, 2023. The animated feature DC League of Super-Pets is taking over Black Adam’s old date, July 29, 2022.
However, Shazam 2, AKA Shazam! Fury of the Gods, is actually being pushed forward from June 2, 2023 to December 12, 2022.
So, to summarize, new DC movie release plan looks like this:Come from …
Interest and betting in women’s sports are experiencing an unprecedented surge in the United States, driven significantly by the popularity of basketball star Caitlin Clark. Making her professional debut with the WNBA’s Indiana Fever, Clark has been pivotal in drawing record-breaking betting activity on the NCAA women’s basketball tournament. Gamblers are keenly wagering on her professional prospects, marking a significant trend in sports betting.
However, Clark’s influence is just a facet of a broader movement in the United States market. Sportsbooks are reporting an overall increase in betting on various women’s sports. Anticipation is building for the upcoming Olympics, with the U.S. women’s basketball team, historically dominant with seven out of the last eight gold medals, expected to attract substantial betting interest. Similarly, the U.S. women’s soccer team, known for its consistent performance, is also drawing strong betting engagement.
<…
Provider of gaming content and software solutions to the online gaming industry, CT Interactive, announced its Italian footprint has expanded after launches with two other brands of Slot Plus.
Strengthening Ties with Slot Plus
The existing agreement with the Italian operator Slot Plus saw CT Interactive going live with two additional brands in the online gaming market in the country – chescommessa.it and hcasino.it – further expanding its presence in Italy.
Commenting on the announcement, Milena Tsankarska, head of Business Development of EMEA at CT Interactive, highlighted the company’s objective to offer its clients “products that will guarantee the best possible experience with the highest-quality gaming content.”
“We are very proud of the way our portfolio is accepted in the Italian market and that operators we have worked with in the past continue to reach…
Playson is ringing out the bells this winter with its Holiday Delights tournament series, featuring a prize pool worth a whopping €200,000!
Kicking off the countdown to Christmas, this three-part tournament series is set to spread seasonal cheer right on into the New Year, running from December 10th – January 10th, according to the slots specialist.
Included in the month-long promotion is the following trio of exciting slots tournaments:
Festive Spirit
- Dates: December 10 – 19
- Total Prize Money – €50K
- Number of prize places: 250
Secret Santa
- Dates: December 20 – 30
- Total prize money: €80K
- Number of prize plac…
The Australian government is poised to implement significant reforms targeting gambling advertisements, which will impact both television and online platforms. According to Sky News, these measures, which are still under Cabinet review, aim to mitigate the extensive exposure of the Australian public, especially children, to gambling content.
Phased implementation and legislative focus:
The proposed reforms are expected to introduce a near-immediate ban on online gambling advertisements, with a specific focus on social media platforms such as Instagram, Facebook, and other digital venues. In contrast, television gambling advertising will face a phased ban, potentially taking up to two years to fully implement due to existing contractual obligations.
Communications Minister Michelle Rowland has reportedly been actively consulting with the ind…
พูดถึงการพอร์ตเกมแล้วหลายคนมักจะพูดเป็นเสียงเดียวกันว่าจะต้องเป็นเกมยอดฮิตอย่าง DOOM ที่เหมือนจะเป็นมีมของสัญลักษณ์แห่งการพอร์ตเกมแล้ว ทว่าล่าสุดก็มีไวรัลใหม่บนโลกอินเทอร์เน็ตอีกครั้งเมื่อมีผู้เล่นคนหนึ่งเกิด ‘หาทำ’ พอร์ตเกมที่นับว่าทางเทคนิคแล้วซับซ้อนกว่า DOOM หลายเท่าตัวอย่าง Grand Theft Auto Vice City มาสู่เราเตอร์ปล่อย WiFi แล้วเสียอย่างนั้น แ�…