100% Return in 1 Year: This Indian Railways stock has doubled investors' money

RVNL Share Price NSE, RVNL Stock, RVNL Share News: The share prices of the Indian Railways sector companies seem to be chugging fast ahead of the Union Budget. Shares of almost all the major listed Indian Railways companies -- RVNL, IRCTC, Container Corporation, IRFC, IRCON International, Texmaco Rail and RailTel Corporation are on the uptrend, perhaps expecting some major announcements in the upcoming Budget.

One stock among the list that is the talk of the town is RVNL (Rail Vikas Nigam Limited). RVNL shares have yielded multibagger returns in the past one month. The stock has zoomed around 90 per cent, resulting in wealth gain for the shareholders. In perspective, RVNL shares that quoted Rs 39.95 on November 2, are now available for Rs 75.15, as per December 1 closing. In the past 6 months, shares of the Mini Ratna company have popped 126 per cent while 118 per cent in 1 year.

RVNL IPO 

RVNL made a tepid stock market debut in April 2019. The stock is currently trading almost 400 per cent higher from the IPO issue price of Rs 19.

RVNL is a wholly-owned government company. It was incorporated by the Ministry of Railways in 2003. It works as a project executing agency for and on behalf of the Ministry of Railways.

RVNL Dividend 2022

RVNL so far, in the current fiscal has distributed dividend to its shareholders on two occasions, totaling Rs 1.83 per share. In March, the company paid an interim dividend of Rs 1.58  per share. Again, in September, the company paid a dividend of Rs  0.25 per share. 

IRFC Share Price

Another Indian Railways stock that has moved one-way is IRFC (Indian Railway Finance Corporation). IRFC, a dedicated market borrowing arm of the national transporter, is firing on all cylinders almost two years after the listing. The stock crossed the IPO issue price of Rs 26 only last month.

Going by the NSE data, IRFC has delivered a whopping 52 per cent returns in the past on month. The one-sided rally in the past few sessions has brought much-needed relief to its investors who were waiting for a trend reversal since its discounted listing on the bourses in January 2021.

Ircon Share Price

Likewise, Ircon International (Indian Railway Construction Limited) shares have surged 36 per cent in the past one month and 55 per cent in 6 months. Ircon International is an engineering and construction corporation, specialised in transport infrastructure.

Zee Business panellist and market expert Avinash Gorakshakar is upbeat on Indian Railways stocks, saying the strong momentum is likely to continue till the Budget as investors are enthusiastic for big announcements when the Modi government presents its penultimate Budget before the 2024 general elections. He said that any announcement regarding tax concession and infrastructure investment in the Budget will add to the moment.

Click Here For Latest Updates On Stock Market | Zee Business Live

Also read- Stocks in News, December 2: PB Fintech, NMDC, ONGC, Hero MotoCorp, Tata Motors, Britannia, Mazagon Dock