Budget 2024: Railway Stocks Decline On Lack Of Allotment To Sector

Shares of most railway companies fell on Tuesday after Finance Minister Nirmala Sitharaman, during her Union budget 2024 speech, did not mention any allocation for the sector.

Shares of Indian Railway Finance Corp. fell the most among the group, trading 6.66% lower, followed by Rail Vikas Nigam Ltd., Ircon International Ltd., Titagarh Rail Systems Ltd., Indian Railway Catering and Tourism Corp. and Jupiter Wagons Ltd., among others.

Shares of major railway stocks declined more as compared to the 0.80% drop in the NSE Nifty 50.