Saurabh Chandrakar Picks Indian Railway stocks in India 2024

A Comprehensive Overview By Saurabh Chandrakar

The demand for railway services in India is poised for continuous growth, driven by increasing incomes and population expansion. Furthermore, the extensive reach of the Indian Railway network ensures that both private and public enterprises engaging in profitable ventures related to the railways, such as Indian Railway shares, will remain active in the foreseeable future. In this article, we will delve into various listed railway-related stocks and identify the top-performing railway stocks for the year 2024.

      Top Railway Stocks in India for 2024


Let us review the top Indian Stocks in the Railways Sector now that we understand this industry better.


Best Railway Stock List


Indian Railway Catering & Tourism Corporation


Container Corporation of India


Indian Railway Finance Corporation  


Rail Vikas Nigam






Titagarh Wagons

In this comprehensive overview, we will examine the top railway stocks in India for 2024 and provide a brief overview of each company.

  1. Indian Railway Catering & Tourism Corporation (IRCTC): Indian Railway Catering and Tourism Corporation Limited is a prominent player in the Indian railway industry. The company specializes in providing online ticketing, catering, and travel services. IRCTC’s core business involves offering catering and hospitality services at railway stations, onboard trains, and various other locations. Its diverse segments include packaged drinking water, internet ticketing, travel and tourism, catering and hospitality (Rail Neer), flight and hotel booking, rail Drishti, e-catering, bus services, vacation packages, tourist trains, hill railways, charter trains, and more. Additionally, IRCTC offers a comprehensive mobile application, which includes features like the IRCTC Zone, iPay Payment Gateway, Wallet, and a loyalty program.

  2. Container Corporation of India (CONCOR): Container Corporation of India Limited, a holding company, specializes in container transportation by both rail and road. The company also manages logistics facilities such as dry ports, container freight stations, and private freight terminals. CONCOR operates in two divisions: Domestic and EXIM (Export-Import). Its services range from air cargo movements and bonded warehousing to reefer and cold chain services, as well as factory stuffing and de-stuffing. The company offers various domestic services, including terminal handling fees, door delivery, pickups, and a volume discount program. Additionally, CONCOR provides an efficient E-Filing software for importers, exporters, and shipping agents to streamline document filing.

  3. Indian Railway Finance Corporation (IRFC): Indian Railway Finance Corporation Limited is the financing division of Indian Railways and is considered one of the top railway stocks in India. IRFC primarily operates in the Leasing and Finance segment, focusing on lending, borrowing, and leasing activities. Its main business involves financial leasing of rolling stock assets, including coaches, wagons, trucks, flats, electric multiple units, containers, cranes, trollies, and other railway components. IRFC extends its support to various organizations under the Ministry of Railways, leasing government-owned national projects and railway infrastructure assets. The company plays a crucial role in expanding and decongesting the current railway network and serves as a lender for several other railway-related ventures.

  4. Rail Vikas Nigam Limited (RVNL): Rail Vikas Nigam Limited is actively engaged in rail development projects and is expected to be one of the best railway stocks in India for 2024. RVNL focuses on funding and implementing projects related to the Golden Quadrilateral reinforcement, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, significant bridges, cable-stayed bridge construction, and institutional buildings. RVNL operates as a turnkey entity, overseeing the entire project development cycle, from conceptualization to commissioning. The company has successfully completed various rail infrastructure projects, such as Diva-Kalyan 5th and 6th Lines, Gurup-Saktigarh Ext of 3rd Line, Jakhapura-Haridaspur 3rd Line, Karjoda-Palanpur Doubling, and Civil Engineering Works in Connection with Diesel Loco Component Factory, Dankuni.

  5. RITES Limited: RITES Limited is an India-based engineering and consulting firm specializing in transportation infrastructure and related technologies. The company offers comprehensive services, ranging from concept to commissioning. RITES operates in various segments, including Domestic Consultancy, International Consultancy, Export Sale, Domestic Leasing, Turnkey Construction Projects, Domestic Power Generation, and Domestic Leasing. The company serves clients in the railways, highways, airports, ports, ropeways, urban transport, and inland waterways sectors, both in India and abroad. RITES also provides turnkey services for railway doubling and electrification, third-party inspection, quality assurance, construction supervision, project management, operations and maintenance, leasing, and the export of rolling stock. With a global presence, RITES operates in approximately 55 countries across Asia, Africa, Latin America, South America, and the Middle East.

  6. BEML Limited: BEML Limited is an Indian company operating in three primary industry sectors: mining and construction, rail and metro, and defense and aerospace. In the defense and aerospace segment, BEML manufactures and supplies a wide range of equipment, including Tatra-based high mobility trucks, aircraft towing tractors, medium and heavy recovery vehicles, pontoon mainstream bridge systems, and more. The mining and construction division offers a variety of equipment such as hydraulic excavators, bulldozers, wheel loaders, dump trucks, motor graders, pipe layers, and more. BEML’s rail and metro division produces rail coaches, metro cars, alternating current electric multiple units (ACEMUs), overhead equipment (OHE) cars, and steel and aluminum wagons for the rail and metro industries. With manufacturing facilities in Bengaluru, Kolar Gold Fields, Mysuru, and Palakkad, BEML serves diverse user segments across these sectors.

  7. Titagarh Wagons Limited: Titagarh Wagons Limited, a holding company based in India, excels in various sectors, including rail rolling stock, defense, shipbuilding, heavy engineering, and infrastructure. The company manufactures and sells a wide range of products, including railway wagons, steel castings, heavy earthmoving and mining equipment, bailey bridges, and more. Titagarh Wagons operates in three segments: Freight Rolling Stock, Passenger Rolling Stock, and Others. The Freight Rolling Stock segment focuses on manufacturing wagons, loco shells, bogies, couplers, and their components. The Passenger Rolling Stock segment includes products such as metro cars, passenger coaches, train sets, monorail, propulsion equipment, traction motors, and their parts. Additionally, Titagarh Wagons is involved in shipbuilding, specializing in designing and building warships, passenger vessels, tugs, and other specialized self-propelled vessels and components. The company also manufactures miscellaneous items like specialized defense equipment, bridge girders, tractors, and more.

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