Railway stocks rally: RVNL, IRFC, BEML gain up to 11%; Here’s why

Railway stocks witnessed strong buying interest on Friday, May 16, 2025, with several counters rallying up to 11 per cent on the last trading day of the week. 

The surge in railway stocks was led by names like Titagarh Rail, RVNL, IRFC, and BEML. Titagarh Rail Systems emerged as the top gainer, jumping 10.72 per cent to ₹895.85, followed by RVNL, which climbed 10.45 per cent to ₹415.20 per share.  

Other top gainers included RailTel, which rose 8.52 per cent to ₹392.85; Jupiter Wagons, up 8.20 per cent to ₹420; and Ircon International, which added 8.11 per cent to ₹191.90.

Additional railway and related stocks also recorded major gains. BEML advanced 7.01 per cent to ₹3,628.75, IRFC rose 6.75 per cent to ₹139, Texmaco Rail gained 6.55 per cent to ₹164.90, IRCTC moved up 3.35 per cent to ₹811.30, and CONCOR rose 2.31 per cent higher at ₹706.15. 

What fuelled the rally in railway stocks on Friday?

According to Ravi Singh, senior vice president of retail research at Religare Broking, the rally in railway stocks is part of a larger bullish trend in the Indian stock market, particularly within the SmallCap space, which has seen over 8 per cent gains this week. 

Singh explained that this renewed momentum follows two key developments that lifted investor sentiment, including the announcement of an Indo-Pakistan ceasefire and positive progress in the US-India trade talks. These geopolitical and economic boosts have fuelled optimism in small-ticket stocks which are, generally, retail investors’ go-to stocks. 

On the other hand, G Chokkalingam, founder and head of research at Equinomics Research, described the current market movement in railway stocks as a tactical rally and advised investors to book profits at current levels.  

“The short- to medium-term outlook for railway stocks remains negative, due to the absence of any substantial increase in budget for the railway sector in FY26,” he added.

On an individual stock level, RVNL announced that it has secured an order worth approximately Rs 116 crore from Central Railway. Additionally, the board of the company is scheduled to meet on May 21, to consider and approve the final dividend for FY25. 

At 12:00 noon, all railway stocks continued to trade higher in the range of 3-11 per cent. In comparison, BSE Sensex was trading 0.38 per cent lower at 82,214.20 level.

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BSE joins ₹ 1 trillion market cap club as stock zooms 102% from March low

Market capitalisation touches ₹1 trillion: The BSE (Bombay Stock Exchange) joined an elite club of stocks that have a market capitalisation of ₹1 trillion or more. The market capitalisation (market cap) of Asia’s largest and oldest stock exchange touched the ₹1-trillion mark for the first time today after the stock price hit a new high of ₹7,422.50 on the National Stock Exchange (NSE) in Wednesday’s intra-day trade. 

BSE share price today 

Shares of BSE Limited hit a new high of ₹7,422.50, as they gained 1.5 per cent on the NSE in Wednesday’s intra-day trade, extending its past two days up move. In the past three trading days, the stock price of the exchange and data platform company has surged 13 per cent after the company fixed May 23, 2025 as the record date for a 2:1 bonus issue.

In the past one month, the BSE has outperformed the market by gaining 31 per cent, as compared to the 6 per cent rise in the Nifty 50. The stock has zoomed 102 per cent from its March month low of ₹3,682. It has skyrocketed 251 per cent from its 52-week low price of ₹2,115 touched on July 23, 2024, NSE data shows. 

A sharp rally in the stock price of the company has seen BSE’s market cap touch ₹100,483 crore (₹1 trillion) in intra-day trade today, for the first time.

At 09:29 AM, BSE’s market cap stood at ₹99,163 crore on the NSE, exchange data shows. The stock was trading 0.45 per cent higher at ₹7,325, as compared to 0.5 per cent rise in the Nifty 50.

BSE trades ex-dividend for ₹23 per share 

BSE’s board recommended a total final dividend of ₹23 per share for its shareholders while announcing the Q4 results on May 6. The company has fixed May 14 as the record date for determining the shareholder eligibility for the same. The total dividend of ₹23 consists of a special dividend of ₹5 per share to commemorate 150 years of BSE, along with a regular dividend of ₹18 per share. 

BSE bonus issue record date  

BSE has fixed May 23, 2025, as the record date for determining the eligibility of shareholders for issuance of bonus shares. On May 9, 2025, the shareholders of the company approved the issue of bonus shares in the ratio of 2:1, i.e. 2 (Two) new fully paid-up equity shares of ₹2 each for every 1 (One) existing fully paid-up equity share of the company.

Since March 28, the market price of India’s oldest stock exchange, BSE has appreciated by 47 per cent after its rival–NSE–deferred its plan to change the day of expiring of its contracts from Thursday to Monday. This comes after the release of a consultation paper from market regulator Securities and Exchange Board of India (Sebi). 

On March 30, the BSE’s board decided to issue bonus shares in a 2:1 ratio, i.e. two new shares for every fully paid-up share held by the shareholders on record date. 

BSE bonus history  

This will be the second time the company will consider a bonus issue after March 2022, according to the corporate action data compiled by NSE.

The board of directors of BSE approved bonus issue on February 8, 2022, in the ratio of 2:1 and fixed the record date for the same as March 22, 2022, for the purpose of determining the names of shareholders who shall be entitled for allotment of bonus equity shares in the ratio of 2 new fully paid-up equity shares of ₹2 each for every 1 fully paid-up equity share held by the shareholders of the company. 

Should investors book profit in BSE shares? 

Looking forward, while there could be some moderation of macro tailwinds in the near term, the management said the company is focused on growing its businesses and remains optimistic about their medium-term outlook. Looking at the rest of 2025 and beyond, the management said the company will continue to leverage its unique Sensex brand, expand connectivity suite with market participants and enhance channels, platforms and products, ensuring that it remains resilient at all times, while being capable of capturing the many exciting opportunities ahead. 

Future & Option (F&O) regulations have been beneficial for BSE with respect to a rise in non-expiry trading activity, leading to improvement in premium turnover. Decline in notional turnover boosted the profitability with lower regulatory costs. Increased member participation, colocation monetisation, and sustained momentum in premium turnover will be key growth drivers for BSE, according to analysts at Motilal Oswal Financial Services. The brokerage firm has a ‘Buy’ rating on BSE with a target price of ₹7,600 per share. 

About BSE 

The Bombay Stock Exchange (BSE) is Asia’s largest and oldest stock exchange, serving as a platform for trading various financial instruments like stocks, currencies, and derivatives. Comprising some of the most actively traded and liquid stocks, BSE Sensex is the benchmark index in the country. Significantly impacting the Indian economy, it is a barometer of India’s financial performance.

BSE SME is India’s largest SME platform, with over 480 companies listed and it continues to grow at a steady pace. BSE StAR MF is India’s largest online mutual fund platform, which processed over 420mn transactions and added 27.1mn new SIPs in FY24. BSE has a diversified revenue stream comprising transaction charges, listing services, treasury income, index services, data feed and others.

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Micro, small, midcap indices outrun Nifty 50 in recent market pullback

Micro, small, midcap indices on the National Stock Exchange (NSE) have outperformed the Nifty 50 in recent market pullback triggered by the India – Pakistan truce on the boarders, shows data from ACE Equity.  

While the Nifty Microcap 250 index has rallied around 6 per cent from its closing level on Friday, May 9 till May 13, the Nifty Smallcap 100 and the Nifty Midcap 150 indices have moved up 5 per cent and 4 per cent respectively during this period, shows ACE Equity data. In comparison, the Nifty 50 index has gained 2.4 per cent. The outperformance in a lot stocks from the micro, small-and midcaps, said Kranti Bathini, Director-Equity at WealthMills Securities, has been on account of a positive earnings surprise in the March 2025 quarter (Q4-FY25). 

“Mid-and smallcaps had been in a consolidation phase since long. Q4FY25 earnings for a lot of companies in these segments surprised positively, which triggered an up move. Though one cannot paint the entire sector with the same brush, it is advisable to take some profit off the table right now. Valuations for some of the stocks in the micro, small-and midcap baskets is still steep and prone to a correction. One has to be stock specific from here on,” he said.

At the stock level, Tanla Platforms, Syrma SGS Technology, Bharat Dynamics, Olectra Greentech, Nippon Life India Asset Management, The Jammu & Kashmir Bank, Reliance Power and Escorts Kubota gained between 11 per cent and 19 per cent during the recent market pullback, data shows. 

K.P.R. Mill, Jyothy Labs, United Breweries, Navin Fluorine International, Chambal Fertilisers and Chemicals and UPL Ltd., on the other hand, lost ground. 

The Nifty 50, according to analysts at IDBI Capital, is trading near one standard deviation above its 10-year average based on one-year forward earnings per share (EPS) estimates.

“In the absence of strong domestic catalysts and amid external policy risks, we expect the market to remain range-bound in the short term. As a result, we anticipate a more stock-specific environment going forward, where select stocks will outperform,” wrote Pravin Bokade and Shreejit Nair of IDBI Capital in a recent note. 

Technical view on the markets 

Those at Angel One, too, remain constructive on the markets and suggest investors adopt a ‘buy on dips’ strategy. Technically, considering the retracement of Monday’s rally (from Friday’s low), the 61.8 per cent level around 24330, which also marks the start of the bullish gap left, is seen as a crucial support for the Nifty 50 index now. 

A breach below this level could see the ongoing up-move fizzle out. The 50 per cent retracement at 24,450 levels serves as immediate support for Nifty 50.  

“On the upside, 24750 and 24900 are the key resistance levels to watch. Traders can continue to focus on mid-and small-caps, but should adopt a selective approach,” advises Sameet Chavan, head of research for technical and derivatives at Angel One.

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Why did Raymond shares drop 66% from ₹1,500 apiece to ₹500 in a day?

Raymond shares slipped to its 52-week low at ₹530 per share from Tuesday’s close of ₹1,561.3 per share, due to demerger. The stock fell 66 per cent in trade as it turned ex-date for the spin-off of Raymond’s real estate business — Raymond Realty.  

The ex-date for a demerger is the date on which shares of the parent company start trading without the right to receive shares of the demerged (spun-off) company.

 However, around 11:30 AM, Raymond shares hit 5 per cent upper circuit at ₹556.45 per share on the BSE. In comparison, the BSE Sensex was up 0.39 per cent at 81,462.23. The market capitalisation of the company stood at ₹3,704.5 crore. The 52-week high of the stock was at ₹3,493 per share.

Raymond’s real estate business demerger

In July, Raymond proposed to demerge its realty business to unlock the value for shareholders and harness growth potential in the Indian property market.

Through an exchange filing, the company informed that its board has approved the scheme of arrangement of Raymond Ltd and Raymond Realty Ltd and their respective shareholders. 

The company also plans to list both companies as separate entities on bourses. 

Raymond received a no objection certificate (NOC) from the BSE and the National Stock Exchange (NSE) for the demerger of its real estate business, according to the company’s stock exchange filing on November 21, 2024.

After the demerger, the new company, Raymond Realty (RRL), will be listed on both the stock exchanges after obtaining the necessary approvals.

Raymond Realty will issue over 67 million equity shares having a face value of ₹10 each to the equity shareholders of Raymond, after the demerger. According to the company’s stock exchange filing, “Further, upon allotment of equity shares by Raymond Realty, the entire pre-scheme paid-up share capital of Raymond Realty held by Raymond shall stand cancelled, and the paid-up share capital of Raymond Realty to that effect shall stand cancelled and reduced, without any consideration.”

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Dynamic Cables hits 20% upper circuit on strong Q4 results, dividend call

Dynamic Cables shares saw strong investors’ demand in an otherwise weak market on Tuesday, May 13. The company’s shares soared 20 per cent to get locked in the upper circuit at ₹610.90 per share on the National Stock Exchange. A combined nearly 1.2 million equity shares of Dynamic Cables estimated to be valued at ₹85 crore exchanged hands on the BSE, NSE before the trading was halted. 

The northward movement in the company’s share price came after the company announced its financial results for the fourth quarter for 2024-25 (Q4FY25) as well as the dividend rewards for its shareholders.

Dynamic Cables Q4FY25 results

 During Q4FY25, Dynamic Cables’ consolidated net profit after tax (PAT) zoomed 71.10 per cent Year-on-Year (Y-o-Y) to ₹23.56 crore from ₹13.77 crore reported in the corresponding quarter of the previous year. The company’s revenue from operations climbed 37.5 per cent Y-o-Y to ₹331.2 crore in Q4FY25 from ₹240.9 crore reported in Q4FY24. The company’s total expenses also grew 35 per cent Y-o-Y to ₹301.90 crore from ₹223.6 crore. 

The company’s order book stands at ₹725.6 crore as on March 31, 2025. 

Dynamic Cables dividend 2025

The company’s board has also recommended final dividend of ₹0.50/- per equity share i.e. 5 per cent per equity share of ₹10 each for the financial year ended March 31, 2025, subject to approval of shareholders at the ensuing 18th Annual General Meeting (AGM) of the Company.

“The above dividend (subject to deduction/withholding of applicable taxes), if approved/declared by the shareholders at the ensuing 18th AGM will be credited/dispatched within 30 days from the date of the 18th AGM,” the company said in a release.

About Dynamic Cables

Dynamic Cables is a manufacturer of power infra cables that includes LV, HV, MV, Power control & instrumentation cables, and signaling cables. It supplies cables to Government Discoms, Private Distribution companies, Private EPC contractors, industrial and Export clients. The company has 3 manufacturing plants situated at Jaipur and Reengus. Business operations are managed through corporate office in Jaipur and 5 regional sales offices across India. 

As of May 13, Dynamic Cables enjoys a market capitalisation of ₹1,776.13 crore on the NSE. 

The company’s shares have a 52-week range of ₹1,095 – ₹446.10 per share on the NSE.

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