Recent darlings of the investors like RVNL, Indian Railway Finance Corporation (IRFC), BHEL, Mazagon Dock, NBCC were among the biggest losers in the PSU pack.

RVNL, Ircon, BHEL, Mazagon Dock: Multibagger PSU stocks tank up to 8% amid stock market selloff

Ircon International Ltd is the worst hit, as the stock at Rs 294.50 is still trading 7.7 per cent lower than its July 22 closing price of Rs 319. The scrip had fallen 8.06 per cent on the Budget day.

Rites, RVNL, IRFC, IRCON, Texmaco Rail: Railway stocks yet to recover from Budget day selloff

Avoid adding to positions in overbought themes like defense, railways, and select PSUs, and use any recovery to reduce exposure in loss-making trades, said Ajit Mishra of Religare Broking.

Railway, defence stocks: RVNL, Cochin Shipyard, HAL, Mazagon, BEL, IRCON, Titagarh - outlook post Budget 2024

Cochin Shipyard climbed 2.63 per cent to Rs 2,742 on BSE. Oil India shares were up 1.92 per cent at Rs 565.65. Ircon International Ltd shares advanced 1.71 per cent to Rs 323.45. LIC shares were up 1.23 per cent at Rs 1,136.90.

Modi stocks, Union Budget 2024: NTPC, Cochin Shipyard, IRFC, BEML, RVNL gain up to 3% today. Here’s why

Nuvama Institutional Equities is expecting a robust capex outlay momentum to continue -- 15-20 per cent YoY growth, as the focus shifts to rolling stock, safety, new tracks laying over coming years against electrification in last decade.

IRFC, Titagarh, RVNL, Jupiter Wagons, IRCON, RITES: Railway shares in limelight, here’re Budget 2024 expectations

The 30-share BSE Sensex pack fell 73 points or 0.09 per cent higher to end at 80,429. Headline index NSE Nifty slipped 30 points or 0.12 per cent to settle at 24,479-level.

Budget 2024: IRCON, RVNL & IRFC shares slump; Astrazeneca, Titan & Suzlon Energy among top gainers

Shipping Corporation of India Ltd, National Fertilizer Ltd, Rashtriya Chemicals & Fertilizers Ltd and New India Assurance Company Ltd are among the other losers in the BSE’s ‘A’ group today, 23 July 2024.

Ircon International Ltd leads losers in ‘A’ group

Narendra Solanki, Head Fundamental Research at Anand Rathi Shares and Stock Brokers has ITC, Varun Beverages Ltd and Minda Corp as his top Budget picks.

Top Budget 2024 stocks to watch: L&T, HAL, IRCON, Adani Green, Tata Power, HUDCO, ITC, PNC Infratech

The closure of IRSDC reflects the Ministry of Railway’s intent to consolidate and optimise railway station development efforts.

Ircon International Announces Leadership Change Amid IRSDC Closure Decision

Board of Ircon International approves change in CEO

Corporate

Board of Ircon International approves closure of Indian Railway Stations Development Corporation

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

IRCON International Ltd is a civil engineering construction Company

Ircon International Ltd

With a market cap of ₹17,640 cr, stock is ranked 366

Ircon International Ltd

Ircon International Ltd

Scorecard

News & Opinions

RVNL, Ircon, BHEL, Mazagon Dock: Multibagger PSU stocks tank up to 8% amid stock market selloff

Rites, RVNL, IRFC, IRCON, Texmaco Rail: Railway stocks yet to recover from Budget day selloff

Railway, defence stocks: RVNL, Cochin Shipyard, HAL, Mazagon, BEL, IRCON, Titagarh - outlook post Budget 2024

Modi stocks, Union Budget 2024: NTPC, Cochin Shipyard, IRFC, BEML, RVNL gain up to 3% today. Here’s why

IRFC, Titagarh, RVNL, Jupiter Wagons, IRCON, RITES: Railway shares in limelight, here’re Budget 2024 expectations

Budget 2024: IRCON, RVNL & IRFC shares slump; Astrazeneca, Titan & Suzlon Energy among top gainers

Ircon International Ltd leads losers in ‘A’ group