IREDA: Shares of IREDA climbed over 10% to hit a day’s high of ₹265.70 on Thursday. The upmove in the stock price was seen after the company said that its board will consider a proposal to raise ₹4,500 crore in one or more tranches through a follow-on public offer (FPO) or other modes during its meeting later this month.
The IREDA stock was listed on November 29, 2023, and has skyrocketed 730%, compared to the IPO price of ₹32.
BEML: Shares of BEML Ltd. are trading with gains of over 2% in Thursday’s trade, after the company said it has inked a Memorandum of Understanding (MoU) with the Directorate of Marine Engineering, Indian Navy.
Additionally, Malaysia’s SMH Rail Sdn Bhd and BEML have signed a MoU to fulfil global demand for rail and metro.
The PSU stock has risen nearly 40% so far in 2024, while it has jumped 90% over the last 12 months.
HUDCO: Shares of Housing and Urban Development Company (HUDCO) Ltd. gained over a percent on Thursday after the company said it has signed a MoU with the Yamuna Expressway Industrial Development Authority (YEIDA).
HUDCO shares are currently trading 0.86% higher at ₹287.60. The stock has rallied 123% so far in 2024, while over a 12-month period, the stock has risen 288%.
Rail Vikas Nigam Ltd: Shares of Rail Vikas Nigam Ltd. (RVNL) are currently trading 1% higher at ₹569.60 today. The stock is off 12% from its record high of ₹647, but are still up 213% so far this year and 213% in the last one year.
RVNL informed the exchanges that it has signed a MoU with Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA) to work jointly to participate into the Railway Infrastructure and services projects in the ASEAN market and other markets.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.