Railway Sector in India

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The Indian railway sector has immense historical significance and is a crucial part of the country’s transportation network. It all began in 1853 when the inaugural passenger train started on its historic journey between Bombay (now known as Mumbai) and Thane. Since that moment, the Indian railways have undergone remarkable expansion, with their vast network now spanning over an impressive 92,000 kilometres of tracks, constantly serving numerous passengers each day.

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This blog aims to explore India’s top railway stocks, offering insights into their future prospects, and highlighting the key benefits of investing in the railway sector within the Indian landscape.

Also Read: Oil & Gas Sector in India

History

The Birth of a Dream (1853):

In April 1853, India’s first-ever passenger train started on its first journey between Bombay and Thane, spanning a distance of 34 kilometres. This marked the birth of a dream of connecting a vast subcontinent through a network of iron tracks.

A Journey of Independence (1947):

In the post-independence era of 1947, India’s railways underwent a significant transformation. It became a fully state-owned entity, under the administrative care of the Ministry of Railways. This shift was a crucial moment, representing the nation’s aspirations for self-reliance and progress.

Tracks Unwound (Present Day):

Today, it has over 92,000 kilometres of tracks, making it one of the largest rail networks worldwide. It’s the lifeline of a nation, connecting big metropolitan cities to remote villages and everything in between.

More Than Just Wheels and Rails:

The Indian railway sector is much more than the wheels on rails. It’s the backbone of its economy. It ensures the smooth flow of essential goods, raw materials, and finished products. It’s part of countless passengers’ lives, whether it’s for daily commutes or cross-country adventures. 

The railways remain a living, breathing chronicle of India’s past, present, and future—a journey that echoes the spirit of a nation on the move. As it continues to adapt and serve the country’s needs, the railways remain a significant chapter in India’s past, present, and future story.

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List of Top 10 Railway Stocks

S.No.Company NameMarket Cap (in Cr)
1.Indian Railway Finance Corp Ltd₹ 97,295
2.Indian Railway Catering and Tourism Corporation Ltd₹ 53,704
3.Container Corporation of India Ltd₹ 45,109
4.Rail Vikas Nigam Ltd₹ 33,110
5.Jupiter Wagons Ltd₹ 12,761
6.RITES Ltd₹ 11,965
7.Ramkrishna Forgings Ltd₹ 10,031
8.Titagarh Rail Systems Ltd₹ 9,960
9.BEML Ltd₹ 9,819
10.Texmaco Rail & Engineering Ltd₹ 4,192

If you’re considering investing in the Indian railway sector, it’s essential to get to know the top-performing railway stocks. Here’s an overview of each of the top 10 railway stocks based on their market capitalisation:

1. Indian Railway Finance Corp Ltd (IRFC)

IRFC is the financial backbone of the Indian Railways. It plays a critical role in raising funds from the market to support railway project expansion and modernization. Thanks to its robust finances and government support, IRFC is a trusted source of railway sector financing.

2. Indian Railway Catering and Tourism Corporation Ltd (IRCTC)

IRCTC is famous for its online ticketing services and its management of railway catering, tourism, and online services. As e-ticketing gains popularity and more tourists opt for railway services, IRCTC consistently records revenue growth and profitability.

3. Container Corporation of India Ltd (CONCOR)

Container Corporation of India Ltd (CONCOR) specialises in containerised cargo transport and logistics. It plays a vital role in promoting containerisation in India, which is crucial for efficient freight transportation. With a vast network and a strong focus on innovation, CONCOR remains a key player in the logistics and transportation sector.

4. Rail Vikas Nigam Ltd (RVNL)

Rail Vikas Nigam Ltd (RVNL) primarily focuses on the development of railway infrastructure. This includes the construction of new rail lines, doubling of existing tracks, electrification projects, and more. RVNL’s significant contribution to the expansion and enhancement of railway infrastructure has attracted attention from investors and stakeholders.

5. Jupiter Wagons Ltd

Jupiter Wagons Ltd specialises in the manufacturing of freight wagons and passenger coaches. As the demand for rolling stock continues to rise, Jupiter Wagons has experienced growth in its business operations. Its commitment to quality and innovation positions it as an important player in the railway rolling stock industry.

6. RITES Ltd

RITES Ltd operates as a leading consultancy organisation in the railway sector. The company offers a wide range of services, including project planning, execution, and maintenance. With a diverse portfolio and a track record of successful projects, RITES maintains a strong presence in the railway industry.

7. Ramkrishna Forgings Ltd

Ramkrishna Forgings Ltd engages in the manufacturing and supply of various forged and machined components critical to the railway and automotive sectors. Its products are integral to the development and maintenance of railway infrastructure, making it a valuable contributor to the railway sector’s growth.

8. Titagarh Rail Systems Ltd

Titagarh Rail Systems Ltd is a significant player in the railway rolling stock industry. The company manufactures a wide range of products, including railway wagons, coaches, and structural components. With a commitment to innovation and quality, Titagarh Rail Systems has established itself as a reliable supplier to the railway sector.

9. BEML Ltd

BEML Ltd holds a prominent position in the manufacturing of rail coaches, metro cars, and mining equipment. The company’s products find applications in both the domestic and international markets. BEML’s commitment to excellence and its diversified product range make it an attractive choice for investors.

10. Texmaco Rail & Engineering Ltd

Texmaco Rail & Engineering Ltd specialises in engineering and manufacturing activities related to the railway sector. The company offers a wide range of products and services, including wagons, coaches, and structural components. 

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Current Performance

Evaluating the current performance of the railway sector and its associated stocks is a crucial step for potential investors. Let’s explore the factors that contribute to their stability and growth.

The railway sector in India has long been known for its stability and resilience. In recent years, this reputation has held true, with many railway-related companies exhibiting steady growth in both revenue and profits. This reliability is due to the sector’s fundamental role in transporting passengers and goods across the country. Regardless of economic fluctuations, the demand for railway services remains strong, providing a reliable source of income for these companies.

One of the key factors for this sector’s stability is the support it receives from the Indian government. This support is displayed in various forms, including funding for critical infrastructure projects, the awarding of contracts, and the initiation of new railway development ventures. This backing strengthens investments in railway-related companies, adding a layer of financial security.

Moreover, many of these companies have healthy order books. These order books signify a healthy pipeline of projects that stretch over several years, ensuring a steady stream of income. This assures investors of a consistent revenue flow, reducing uncertainty compared to other sectors.

Lastly, the railway sector’s adaptation to digital technologies has significantly improved its operational efficiency. This digital transformation has improved the overall travel experience for passengers through simplified booking processes, real-time updates, and improved onboard services. These digital advancements not only attract more passengers but also open up new revenue opportunities, further improving the sector’s performance.

Also Read: Engineering Sector in India

Future Outlook

The future of the Indian railway sector looks promising for several reasons:

  • Government Investments: The government’s strong commitment to investing in railway infrastructure is a key driver of growth. Ambitious projects like high-speed rail networks and dedicated freight corridors are set to transform the railway landscape, boosting economic growth in connected regions. This bodes well for long-term investors.
  • Digital Transformation: The adoption of digital technologies is reshaping the sector, improving the passenger experience with easier booking, real-time updates, and onboard services. This not only attracts more passengers but also creates new revenue streams, boosting sector performance.
  • Sustainability: The sector is aligning with global sustainability concerns by electrifying rail routes and reducing the carbon footprint. This commitment to sustainability attracts environmentally conscious investors and aligns with international standards.
  • Global Expansion: Many listed companies have the potential to expand internationally. Indian railway firms’ manufacturing capabilities make them competitive on the global stage, offering growth opportunities beyond the domestic market.
  • Innovation and Efficiency: Emphasis on innovation and efficiency is enhancing operational capabilities. Technologies like predictive maintenance, automation, and artificial intelligence reduce downtime and improve service quality, leading to cost savings and increased competitiveness.

Advantages of Investing in the Railway Sector

Investing in the Indian railway sector comes with several compelling advantages that make it an appealing choice for investors seeking both stability and growth. Here’s a detailed look at these advantages:

  • Steady Revenue Streams: Railway companies typically enjoy consistent revenue streams thanks to long-term contracts, passenger services, freight transportation, and ongoing infrastructure projects. The essential role of railways in the country’s transportation network ensures a reliable income source for investors over time.
  • Infrastructure Growth: Continuous development and expansion of railway infrastructure generate consistent demand for services and products offered by railway companies. This includes new rail line construction, electrification projects, dedicated freight corridor development, and station modernisation. Such projects create a significant need for railway-related services and products, ensuring a steady flow of business for companies in this sector.
  • Diversification: Investing in railway stocks provides an effective way to diversify your investment portfolio. By spreading your funds across various railway companies, you can mitigate the risk associated with any single investment. Diversification safeguards your investments against potential challenges individual companies may face, resulting in a more balanced and resilient portfolio.
  • Resilience: The railway sector has a proven track record of resilience, even during economic downturns. It tends to be less sensitive to economic fluctuations compared to many other industries. People and businesses continue to rely on railways for transportation, making it a dependable investment choice during economic uncertainty. This stability offers a sense of security to investors.
  • Dividend Income: Many railway companies have a history of paying dividends to their shareholders. This dividend income can be an attractive feature for investors seeking regular income in addition to potential capital appreciation. The stability of the railway sector often translates into consistent dividend payments.
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Frequently Asked Questions

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1. Are railway stocks a safe investment option?

Answer Field

Yes, railway stocks can be considered relatively safe investments. These companies often have long-term contracts with the government and steady revenue streams. The essential role of railways in transportation also contributes to stability. It’s crucial to research thoroughly and diversify your portfolio to manage the risks effectively.

2. How can I invest in railway stocks?

Answer Field

To invest in railway stocks, you need to follow these steps:
– Open a Demat and trading account with a stockbroker of your choice.
– Research the railway companies you’re interested in.
– Place buy orders for the stocks you wish to invest in through your trading account.

3. What factors should I consider before investing in railway stocks?

Answer Field

Before investing in railway stocks, consider the following factors:
– Financial Health: Examine the company’s financial statements to assess its stability.
– Growth Prospects: Analyse the company’s potential for future growth, including its order book and projects in the pipeline.
– Market Position: Evaluate the company’s position in the railway sector and its market share.
– Economic Environment: Consider the overall economic conditions, as they can influence stock performance.
– Diversification: Diversifying your portfolio by investing in multiple railway stocks can help spread risk.

4. How does market capitalisation affect my investment decision?

Answer Field

Market capitalisation reflects the size and stability of a company. Larger companies tend to be more stable but may experience slower growth. Smaller companies may offer higher growth potential but often carry more risk. Your investment strategy should align with your risk tolerance and long-term financial goals.

5. What role does government policy play in the railway sector?

Answer Field

Government policies and funding play a pivotal role in shaping the performance and profitability of companies in the railway sector. Policies related to infrastructure development, electrification, and modernisation directly impact the sector’s growth and the opportunities available to railway stocks. Monitoring government initiatives and their effects on the sector is crucial for informed investment decisions.

6. Can I invest in railway stocks for the long term?

Answer Field

Yes, you can consider many railway stocks as good long-term investments. They provide stable revenue streams and growth potential. Nevertheless, it’s vital to research carefully before investing and regularly analyse your portfolio to ensure it matches your financial objectives.

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Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at https://www.nseindia.com/

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : https://www.bajajbroking.in/pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

PICKRIGHT / MARKETSMITH / GOLDENPI / SOVEREIGN GOLD BONDS

Bajaj Financial Securities Limited is only distributor of this product. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism. Bajaj Financial Securities Limited is not a registered Investment Advisory. User discretion is required before investing. Client is requested to independently evaluate and/or consult their professional advisors before arriving at any conclusion to make any investment. The decision to invest shall be the sole responsibility of the Client and shall not hold Bajaj Financial Securities Limited, its employees and associates responsible for any losses, damages of any type whatsoever. 

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

IPO FINANCING

IPO Financing is done through Bajaj Finance Limited. Bajaj Finance Limited (BFL or Lender) reserves the sole right to decide participation in any IPO and financing to the client shall be subject to credit assessment done by the lender. Also, BFL shall have full rights to decide the commercial terms for IPO and final application and financing shall be subject to all requirements being met by the client in a timely manner including documentation, account setup and payment of required Interest and Margin. Bajaj Finance Limited also reserves the exclusive rights to change any of the above-mentioned terms and conditions without prior notice to clients. The scheme margin is subject to change. UPI is mandatory to bid in all IPOs through our platform. As per exchange guidelines, all the UPI mandates will only be accepted till 5:00 PM on IPO closure day. 

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites. 

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.