Shares of IRFC, RVNL, IRCON, and RailTel plummeted as much as 6% on 18 July, after profit-booking took place in these railway stocks for the third straight day except for RVNL, which has been down for the fourth consecutive session.

Investors are booking profits in these stocks after a strong 12-18 month performance. IRFC shares have declined 9% from last Friday’s high of ₹224. RVNL shares are also down 9% from their recent all-time high of ₹647 and have declined for four consecutive days.

IRCON shares have dropped nearly 11.5% from Monday’s high of ₹351. Railtel shares rose over 14% last Friday and had to give up almost all those gains. It is 15% down from last week’s high of ₹617.

Even after the drop, IRCON shares trade at a current-year P/E multiple of 21, well above the five-year average of 12.8.

Rail Vikas Nigam shares have surged over 200% in 2024, trading at a P/E multiple of 75 for the current year and 67 for FY2026, far above the five-year average of 11.9. 

Despite the drop, RailTel shares are still up 13% in July itself. IRFC shares are up 17.6% so far this month.

IRCON International shares are up 15.7% in July. IRFC and RVNL have not yet uploaded their shareholding patterns for the June quarter.

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