Sun Oct 13 04:50:00 UTC 2024: ## Railway Stocks Surge, But Remain Below Highs Despite Analyst Optimism

**Mumbai, India** – Railway stocks, including IRFC, IRCTC, RVNL, and RailTel Corporation, experienced a surge on Friday, with some gaining up to 2% due to increased buying momentum. While this represents a modest recovery from recent lows, these multibagger stocks remain significantly below their 52-week highs.

Despite strong year-to-date (YTD) performance, with RVNL up 161% and IRFC exceeding 101%, several railway stocks are facing significant dips from their peak values. RVNL, for instance, is down over 35% from its July 2024 high, while IRCTC has fallen by over 23%.

The rally in railway stocks earlier this year was fueled by increased budgetary allocations for the sector. However, the latest budget fell short of analyst expectations, leading to a sharp correction.

**Analyst Perspective:**

Despite the recent dip, analysts remain optimistic about the future of railway stocks. Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi, believes these stocks are trading in an oversold zone and poised for an upside breakout. He recommends a “buy on dips” strategy for stocks like IRCTC, IRFC, RVNL, RITES, and IRCON International, citing specific target prices and stop-loss levels.

**Disclaimer:** The views expressed by analysts are their own and not necessarily representative of Mint. It is advised to consult with a certified expert before making any investment decisions.

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