Railway stocks plummet 20% as Lok Sabha results show narrower victory for Modi-led NDA

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Railway stocks right now: On Tuesday, June 4, railway stocks skilled important declines, with some corporations seeing their shares plummet by as much as 20%. Titagarh Rail Systems and RailTel Corporation have been among the many hardest hit, with their stocks tumbling almost 20%.
Other corporations such as Ircon International, IRCTC, RITES, Rail Vikas Nigam (RVNL), and Texmaco Rail & Engineering additionally witnessed substantial losses, with declines exceeding 18%.IRFC and Jupiter Wagons weren’t spared both, as their shares fell by roughly 16%.
The sharp drop in railway stocks will be attributed to the Lok Sabha election end result tendencies, which deviated from the predictions made by exit polls. Data is indicating that the BJP-led NDA is main in 297 out of 543 seats, whereas the INDIA alliance was forward in 229 seats, with others main in 17 seats.
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These numbers stand in distinction to the exit ballot surveys performed after the seventh part of elections on Saturday, which had prompt a possible BJP victory, with the NDA anticipated to safe over 370 seats.
V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the steep fall, stating, “If the BJP doesn’t secure a majority on its own, there will be disappointment, which is being reflected in the market.”
The broader market additionally skilled a big downturn, with the BSE Sensex and Nifty50 plunging and India VIX skyrocketing by 44%.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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