Most railway stocks, including Rail Vikas Nigam, Railtel Corp of India, Ircon International, Container Corporation and Texmaco Rail, declined up to six percent on Wednesday amid a weak trend in the broader market.

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Among major losers, Indian Railway Finance Corporation Ltd retreated from its 52-week high levels on Wednesday, tanking more than 5.5 percent to hit a day’s low of Rs 67.23 per share on BSE.

Breaking its seven days of gaining streak, the stock was trading 5.05 percent down at Rs 68.60 at 9.40 AM. The stock had rallied around 56 percent in the seven-day rally to September 5. Also, the stock had jumped more than 19 percent on Monday, logging its best single day since its listing in 2021.

Similarly, Rail Vikas Nigam Ltd also snapped its seven-day gaining streak as it declined by 5.08 percent to hit a low of Rs 148.70 on BSE in morning deals. The stock jumped 31 percent to trade near 52-high level of Rs 163 on September 5.

Ircon International Ltd plunged by more than 3.5 percent to hit a low of Rs 120.70 on BSE, trading down for a second straight day on BSE after a six-day rally. Ircon shares had rallied around 31 percent in the six-day rally to Monday to hit a 52-week high of Rs 135.65 per share on BSE.

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The stock closed marginally down at Rs 126.30 apiece on Tuesday after its turned ex-dividend on September 5. The company paid a dividend of Rs 1.2 per share on September 5.

Similarly, Railtel Corp declined 3.6 percent to Rs 222.20 while Texmaco Rail dropped by over 2 percent to Rs 154.15 on BSE.

On the other hand, Container Corp recovered from early lows of Rs 681.80 to trade 0.74 percent higher at Rs 691.30 on BSE.

Titagarh Rail Systems was up 1.87 percent at Rs 838.25 and Rites was up 0.58 percent at Rs 515.30.

Railway stocks staged a remarkable recovery in the past 10 days after experts said that players may see a lot of orders flowing their way in the next few months.

Sudhanshu Mani, a railway professional and the visionary behind Vande Bharat Express trains, told CNBC-TV18 last month that Indian railways has placed orders to manufacture 200 Vande Bharat trains and this will start in 2025 and go on for next four years.

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(Edited by : Asmita Pant)