2 Railway-Related Stocks Breach 52-Week Highs In 2 Days
NDTV
IRCON International rose to its 52-week high of Rs 62.10 on BSE intraday on Wednesday. On the next day, another rail public sector unit (PSU) Indian Railway Finance Corporation (IRFC) set a new high of Rs 28.70.
Two railway-related stocks-- IRCON International and Indian Railway Finance Corporation -- have breached their 52-week highs in the past two days, indicating investor interest in growth opportunities in rail infrastructure.
IRCON International rose to its 52-week high of Rs 62.10 on BSE intraday on Wednesday. On the next day, another rail public sector unit (PSU) Indian Railway Finance Corporation (IRFC) set a new high of Rs 28.70.
The turnkey construction company under the Ministry of Railways had posted a net profit of Rs 178.10 for the July-September quarter on a revenue of Rs 2,117.21 crore. The profit has increased over 38 per cent from the comparable period last year. Total revenue growth was recorded at 45.69 per cent at Rs 2,305.87 crore.
Analysts said the company's order book looks healthy. As of September 30, the total order book stands at Rs 40,020 crore. Railways account for a large chunk of order book at Rs.30,712 crore.
