Shares of Rail Nigam Vikas Ltd. surged by almost 10% to touch a day’s high of Rs 573.40 on 12th August, after the cabinet committee approved projects worth Rs 24,657 to the company.

Railway PSUs are trading with gains on Monday following two weeks of selling pressure. Rail Vikas Nigam Ltd. (RVNL) shares are leading the gains among peers like IRCON, IRFC, and RailTel.

Shares of RVNL are up by as much as 10% today, marking only the second time in the last nine trading sessions that the stock has advanced.

On Friday, the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved eight railway projects with a total estimated cost of Rs 24,657 crore.

The proposed projects aim to improve logistical efficiency by connecting unconnected areas and enhancing transportation networks, which will streamline supply chains and boost economic growth.

These projects are scheduled for completion by FY 2030-2031.

Besides RVNL, shares of IRFC are up by 2%, and the company will report its quarterly results later today. IRCON shares are also trading with a 3.5% gain, and RailTel shares are up over 2% on Monday.

As of Friday’s close, RVNL shares had corrected nearly 20% from their record highs, while IRCON and IRFC shares had corrected 15% and 22%, respectively, from their peaks reached in mid-July.

At 11:18 AM, the shares of RVNL were trading 9.74% higher at Rs 568.60 on NSE.

Feeling overwhelmed by the markets? Let Unicorn Signals be your guide. Our user-friendly app simplifies complex data and provides actionable trading signals. Download the app today and trade with confidence!