IRFC Share Price | Shares of IRFC, RVNL, Titagarh fall up to 20% in two days, what next?

IRFC Share Price | Railway stocks declined for the second consecutive session on Wednesday due to profit booking. Shares of Rail Vikas Nigam Limited, Indian Railway Finance Corporation, RailTel Corporation of India, RITES and IRCON International have lost 11-17 per cent in the last two sessions. At the same time, Texmaco Rail and Engineering and Titagarh Rail Systems saw a decline of up to 20 percent.

IRFC Share Price | RVNL Share Price |  Titagarh Rail Share Price

These stocks also saw a decline on Tuesday and the same sequence continued even today. Titagarh Rail Systems shares saw the biggest decline of 10 percent. Similarly, RVNL fell by 5 per cent, IRFC by 8 per cent, RailTel by 7 per cent, IRCON by 6 per cent, RITES by 1.4 per cent and Texmaco by 6 per cent.

These stocks had seen a stormy rise before this recent decline. Many of these stocks have touched new 52-week highs several times in the last one month.

IRFC Share Price | Profit booking in shares

Due to the pressure of profiteering, these stocks related to the railway sector collapsed on Wednesday. Earlier on Monday, many stocks touched their new 52-week highs.

Earlier on Saturday, it was announced that an economic corridor connecting West Asia and South Asia as well as Europe will be created. Due to this, there was a lot of positive sentiment and jump in the shares of the railway sector on Monday.

IRFC Share Price | Market Analysts Opinion

However, given the stormy rise of these stocks, analysts became very cautious and feared that these stocks could see profits at high levels. Anand James, chief market strategist at Geojit Financial Services, had said that these railway stocks could see profits.

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