As the crisis deepened over the economic corridor being built from India to Europe, railway shipping stocks fell

Railway Stocks Update: In the Indian stock market, due to the war between Israel and Hamas, stocks related to railways and defense sectors have suffered huge losses. Which includes IRCON International, Rail Vikas Nigam Limited. A similar situation was seen in shipping and defense stocks, which saw declines of up to 5 percent.

The Palestinian Islamic organization Hamas continued its attacks on Israel on Saturday, followed by Israeli retaliation. Due to this news, stock markets around the world fell. But the war has had a big impact on railroad stocks, which fell 6 percent in intraday trading. The stock of IRCON International fell 6.25% to Rs 132.80, IRFC fell 5.21% to Rs 70.91, Rail Vikas Nigam Limited stock fell 5.09% to Rs 161.30, RailTel Corp of India fell 4.68% to Rs. 208.70. Slipped.

Also, Texmaco Rail shed 5.06 percent, Titagarh Railsystems shed 3.61 percent, RITES shed 2.57 percent, and IRCTC shed 2.63 percent to close at Rs 700.50. The market fears that the fallout from a war between Israel and Hamas could hang in the balance. The India-Middle East-Europe Economic Corridor, which was announced during the G-20 summit in September 2023, would also include a rail line. will be included. The Gulf country was to be extended to Europe.

The war between Israel and Hamas has led to a sharp fall in the shares of companies involved in the shipping sector, which could benefit greatly from the corridor. Cochin Shipyard closed down 3.66% at Rs 1,033, Mazagon Dock Shipyard shed 3.56% at Rs 2,073 and Garden Rich Shipyard shed 3.80% at Rs 785.75 due to war.

Apart from railways, this corridor from India to Europe was also considered very positive for shipping companies. But global political instability has increased in the Middle East since the war between Israel and Hamas, which has created a situation of uncertainty among investors.

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