SARKARI SHARE UPDATE: These 5 Government Shares, which were running at the speed of a rocket

News: Government stock news (PSUs Stocks) – The government stocks, which had been on a meteoric rise in the past few days, took a sharp nosedive today, particularly on Friday. While the Nifty 50 market remained relatively stable, profit-taking was evident in government stocks, with some witnessing declines of 10 to 11%. Here’s a detailed breakdown:

1. Rail Vikas Nigam Ltd

Among these, Rail Vikas Nigam Limited, or RVNL Share, stands out. These shares plummeted by 11% intraday today, albeit recovering slightly later, still ending the day down by 8% at Rs 258. RVNL Shares had closed at Rs 281.70 on Thursday, but Friday saw a gap-down opening at Rs 258, quickly dropping to Rs 250.50. Despite a minor recovery, the shares remained at Rs 258. The maximum for IRFC Share is Rs 345.50, currently trading at Rs 258, marking a 25% decline from its peak. While RVNL Share had seen over 50% growth in a month and doubled investors’ money in 6 months, it faced a 14% decline in a week and a 25% drop from its peak.

The decline in RVNL Share is attributed to disappointing quarterly results, with a net profit decrease from Rs 338.51 crore in December 2022 to Rs 328.5 crore in 2023. Additionally, EBITDA fell by 10% compared to the previous year, from Rs 275.68 crores in December 2022 to Rs 249.10 crores in December 2023.

2. Indian Railway Finance Corporation Ltd

Taking the second spot is Indian Railway Finance Corporation Limited (IRFC Share), which saw a 7% drop today, but later recovered slightly, settling at Rs 154.60, down by 4.5%.

On Thursday, IRFC Share closed at Rs 161.95. Friday’s opening was at Rs 162, dipping to an intraday low of Rs 149.15. The highest point for IRFC shares reached Rs 192.80, now resting at Rs 154.605, marking a 20% decrease from its peak.

In terms of performance, IRFC Share boasted a 60% return in the last month and a staggering 200% increase over six months, quintupling investors’ money. However, recent days saw a 20% decline, with a 10% drop since last week.

Today, February 9, 2024, marks the announcement of RFC’s results, which are expected to impact IRFC Share positively, with investors anticipating a strong quarter performance.

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3. Ircon International Ltd

Moving on to the infrastructure share of Railways, Ircon International Limited witnessed a significant decline today, initially dropping by over 5% intraday. However, it later recovered slightly, trading at Rs 223.

On Thursday, Ircon Share closed at Rs 228.55. Friday’s opening at Rs 232 saw a quick downturn due to the fall in government shares, reaching an intraday low of Rs 216.80 before rebounding to Rs 223.

Ircon International Limited hit its 52-week and all-time high at Rs 280.85, now trading at Rs 223.15, with a 20% decrease from its peak.

Ircon International share remains relatively inexpensive (according to PE) compared to others, with a significant backlog of orders to fulfill, promising future profit growth that will directly impact its share value. This could be an opportune time to invest, especially considering the positive December quarter results, showing a 4.30% growth compared to last year.

4. NBCC (India) Ltd

Ranked fourth among government shares is NBCC India Limited. NBCC is involved in construction, and today saw a notable decrease in its share value, dropping by 10% at one point. However, it later recovered slightly, trading at 146.5, down by 4.78%.

On Thursday, NBCC shares closed at Rs 153.90. Friday saw a slight increase as shares opened at Rs 154.65 but quickly plummeted to a low of Rs 139.65. After a modest recovery, NBCC shares settled at Rs 146.55, down by 1.78%.

The 52-week high for NBCC shares was 176.85 on February 5, 2024. Since then, the stock has declined by about 17%. The December quarter results for NBCC India Limited are yet to be announced, expected on February 13, 2024.

5. NHPC Ltd

At the bottom of the list is NHPC Limited, a power sector share that has recently experienced significant growth. NHPC shares have surged by 40% in the last month and nearly doubled in the past six months, showing a 100% return. Over the year, the share has increased by 138%. However, today witnessed a decline in NHPC shares.

On Thursday, NHPC shares closed at Rs 101.50 and opened slightly higher on Friday at Rs 102.20 before dropping to Rs 92.50 intraday. After a minor rebound, the shares settled at Rs 95.70.

NHPC shares hit their 52-week high at Rs 115.85, currently down by 17.39% from that peak. Despite this, experts anticipate continued growth, especially given NHPC’s focus on the power and solar sectors.

Government shares have been performing well lately. While some profits have been taken, technical indicators remain strong on a weekly and monthly basis. Looking ahead, IRCON International Ltd, NHPC Ltd, and NBCC India Ltd are expected to perform well in the future.