PM Modi, the US President, and leaders of the Gulf states are reportedly planning to announce a joint infrastructure agreement during the “G20” summit to be held this weekend. 

The plan mainly aims at establishing a network of railways connecting Gulf and Arab countries. The same will also lead to an increased connectivity of India’s shipping lanes from ports in the region. 

Listed below are 4 stocks that have shown huge jump in Stock prices on speculations of the above-mentioned deal: 

Indian Railway Finance Corporation Limited 

With a market capitalization of Rs 99,372.92 Crores, the stocks of Indian Railway Finance Corporation Limited (IRFC) opened their trading hour on Friday at Rs 74.65 and currently trade at Rs 76.09, gaining around 4 percent as compared to the previous close of Rs 73.17 apiece. 

Indian Railway Finance Corporation Limited is associated with the business of borrowing funds from the financial markets in order to finance the acquisition of assets, and, then leased out to the Indian Railways or any other entity under the same ministry. 

During the past one-year period, the company’s stock has proven to deliver multibagger returns of approximately 233 percent, i.e., if someone had invested Rs 1 Lakh into the company’s stock, it would have converted to Rs 3.33 Lakhs within a period of one year. 

Having a look at the annual financials reported by the company, the operating revenues as well as the after-tax profits have shown decent growth with the former moving up from Rs 20,299 crores during FY21-22 to Rs 23,891 crores during FY22-23, and, the latter increasing from Rs 6,089 crores to Rs 6,337 crores during the same period. 

Rail Vikas Nigam Limited 

With a market capitalization of Rs 34,090.08 crores, the stocks of Rail Vikas Nigam Limited (RVNL) opened their trading hour on Friday at Rs 154.20 and currently trade at Rs 164.50, gaining around 6.92 percent as compared to the previous close of Rs 153.85 apiece. 

Incorporated in 2003, Rail Vikas Nigam Limited is engaged in the business of construction of rail infrastructure projects in India. The company executes various railway projects including gauge conversion, metro projects, railway electrification, etc. 

During the past one-year period, the company’s stock has proven to deliver multibagger returns of approximately 394 percent, i.e., if someone had invested Rs 1 Lakh into the company’s stock, it would have converted to Rs 4.94 Lakhs within a period of one year.

Having a look at the financials reported by the company, the operating revenues as well as the after-tax profits have shown decent growth with the former moving up from Rs 19,381 crores during FY21-22 to Rs 20,281 crores during FY22-23, and, the latter increasing from Rs 1,079 crores to Rs 1,261 crores during the same period. 

Ircon International Limited 

With a market capitalization of Rs 12,320.76 crores, the stocks of Ircon International Limited opened their trading hour on Friday at Rs 123.30 and currently trade at Rs 131.95, gaining around 7.45 percent as compared to the previous close of Rs 122.80 apiece. 

IRCON International Limited is a company based in India that specializes in infrastructure projects including railways, bridges, highways, etc. 

During the past one-year period, the company’s stock has proven to deliver multibagger returns of approximately 213 percent, i.e., if someone had invested Rs 1 Lakh into the company’s stock, it would have converted to Rs 3.13 Lakhs within a period of one year. 

Having a look at the financials reported by the company, the operating revenues as well as the after-tax profits have shown decent growth with the former moving up from Rs 7,379 crores during FY21-22 to Rs 10,367 crores during FY22-23, and, the latter increasing from Rs 532 crores to Rs 733 crores during the same period. 

Rites Limited 

With a market capitalization of Rs 13,215.40 crores, the stocks of Rites Limited opened their trading hour on Friday at Rs 509.90 and currently trade at Rs 549.95, gaining around 8.25 percent as compared to the previous close of Rs 508.05 apiece. 

Rites Limited is a multi-disciplinary consultancy organization operating in various segments including Turnkey Construction Projects, Consultancy Services, Power Generation, and many more. It generates a majority of revenue from the ‘Consultancy’ Services mentioned above. 

Having a look at the financials reported by the company, the operating revenues and the after-tax profits have shown opposing movements with the former, on one hand, reducing marginally from Rs 2,661 crores during FY21-22 to Rs 2,628 crores during FY22-23, and, the latter, on the other hand, increasing from Rs 537 crores to Rs 570 crores during the same period. 

Written by Amit Madnani

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