Railway stocks such as RVNL, IRCON and IRFC have remained under pressure ever since the budget came out last month. Lukewarm results from companies such as RVNL and IRCON have dampened sentiments further.

What Happened: The stocks, however, are expected to be in the spotlight on Monday after the Cabinet Committee on Economic Affairs approved eight new railway projects worth ₹24,657 crore, covering 14 districts across seven Indian states. These new projects are expected to benefit railway PSUs, as they are likely to receive fresh business opportunities.

On top of that IRFC is scheduled to release its earnings for the quarter ended June on Monday. RVNL is also scheduled to have its earnings call on Monday evening.

The stocks have all given negative returns in the past 30 days. RVNL’s share price is down 17%, IRCON shares have also crashed around 17%. IRFC’s share price has gone down around 12, while private players like Jupiter Wagons and Titagarh have seen shares go down around 20%.

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However, on a year-to-date basis, almost all stocks have given notable returns. Expect for IRCTC all others have gone on to beat the benchmark NIfty’s around 12% return. The major outperformed from the lot has been RVNL, which has given over 180% returns.

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