Indian Railway Stocks List

India’s railway network is a reflection of the country’s infrastructure capabilities. As the 4th largest railway system in the world, it covers almost the entire country and is a key driver of economic growth. Indian Railways under the Railway Board is the only rail service provider in the country. Known for its efficiency and affordability it is the preferred mode of transport for millions of Indians especially for long distance travel.

With a network of over 63,028 km of routes and 108,706 km of tracks, Indian Railways employs over 1.54 million people making it India’s largest employer. In the Union Budget 2025-26 the government has allocated INR 3.02 lakh crore (USD 34.7 billion) to the Ministry of Railways as against INR 2.52 lakh crore (USD 30.3 billion) in 2024-25. This is a significant investment which will drive growth and development in Indian Railways.

Let’s explore some of the Indian railway stocks list that have gained momentum following this historic budget allocation.

What Makes Railway Sector Stocks Irresistible?

Railway stocks are attractive to investors with their unique combination of stability, efficiency and long term growth. As part of the supply chain railroads transport goods over long distances more cost effectively than alternatives giving them a strong competitive advantage. They generate steady cash flow, offer good dividends and have limited competition and high entry barriers. This makes them a safe and low risk option for long term investors.

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Top Indian Railway Stocks list by Market Capitalization April 2025

Profits are calculated based on the current price and as of 11 April 2025

Best Indian Railway Share List

Now, let us embark on a journey through the realm of India’s leading railway companies, where we shall evaluate their prominence based on Market Capitalization.

#1 Indian Railway Finance Corporation (IRFC) – The Leading Force in Indian Railway Stocks List

Indian Railway Finance Corporation (IRFC) is a major financial institution for the growth and modernization of Indian Railways. Established in 1986 under Ministry of Railways, IRFC finances the railway sector’s capital expenditure.

IRFC raises funds from the market through bonds, loans and lease financing and acquires and leases railway assets to Indian Railways. This innovative model ensures a steady flow of funds to the railway network to expand and improve the infrastructure. With a strong track record and deep understanding of the railway sector, IRFC has become a leading non-banking financial company (NBFC) in India.

IRFC has reported good financials for FY 2023-24. Revenue grew by 12.32% to INR 26,644.58 crore and net profit by 3.97% to INR 6,412.10 crore. The company has good cost management and has an operating profit of around INR 26,512 crore. Total borrowings are INR 4,12,032 crore at an average cost of 7.27% per annum. IRFC has grown rapidly with revenue growing at a CAGR of 19.1% over the last 5 years

#2 Rail Vikas Nigam (RVNL) – Transforming India’s Rail Infrastructure

RVNL is a Government of India enterprise established in 2003 and has become a major player in India’s railway infrastructure development. RVNL executes various railway projects assigned by Ministry of Railways and has been instrumental in expanding, electrifying and modernizing the railway network of the country. Total order book of RVNL is INR 85,000 crore in FY 2024.

RVNL had a great FY2024 with revenue of INR 21,733 crore, a big jump year on year. This translates to a net profit of INR 1,463 crore and EPS of INR 5.99. RVNL has been consistent over the last 5 years with a revenue CAGR of 16.60%. So RVNL is well placed to benefit from the opportunities in Indian railway infrastructure. Additionally, with a dividend yield of over 0.46%, RVNL stands among the top railway stocks in India.

#3 Indian Railway Catering & Tourism Corporation (IRCTC):  A Premier Choice Among the Best Railway Stocks in India

Indian Railway Catering & Tourism Corporation (IRCTC) is a subsidiary of Indian Railways responsible for catering, tourism and online ticketing. Established in 1999, IRCTC is based in New Delhi.

IRCTC has a huge network of catering units including base kitchens, mobile catering units and pantry cars to provide food to passengers on trains. IRCTC also manages food stalls, restaurants and luxury tourist trains like Palace on Wheels, Maharajas’ Express and Buddhist Circuit Tourist Train. With a sales CAGR of 18% over the last 5 years and a PE Ratio of 48.2, IRCTC is one of the best railway stocks in India.

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#4 Container Corporation of India (CONCOR): The Backbone of Indian Logistics

CONCOR is a leading Indian logistics company since 1988. As a government owned entity, CONCOR offers a range of logistics solutions including containerized cargo transportation, handling, storage and value added services. With a strong network of coastal and inland locations, CONCOR is committed to provide efficient, reliable and cost effective logistics solutions to its customers.

In Q2 FY2024, Container Corporation of India (CONCOR) reported revenue of INR 2,103 crore and net profit of INR 259 crore. For FY2024, CONCOR’s EPS is INR 21.4 as against INR 19.27 in FY2023. CONCOR has also achieved a revenue CAGR of 4.46% over the last 5 years.

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#5 Ircon International (IRCON): Best in Engineering From Top Railway Sector Stocks in India

Ircon International is a Government of India company established in 1976 is a leading engineering and construction company. Headquartered in New Delhi, Ircon is present in various sectors like Railways, Highways, Bridges, Tunnels, Airports, Metro Systems and Buildings. With presence in 21 countries across the globe, Ircon is expertise in executing complex projects especially in Railway sector. The company’s expertise includes construction of new railway lines, electrification, signalling and other infrastructure projects including dedicated freight and high speed rail corridors in India. With a CAGR of 20.80% over 5 years, the company is growing both in revenues and profits.

#6 Bharat Earth Movers (BEML)

BEML is a government company formed in 1964 and is a major player in India’s core sectors like defence, rail, power, mining and infrastructure. Initially BEML was focused on producing rail coaches and spare parts and has since expanded its operations big time. The company is listed on both BSE and NSE and has a wide shareholder base. From a humble turnover of INR 5 crore in 1965 to INR 4,054 crore in FY 2024, BEML has come a long way.

The price to earnings (PE) ratio is 49.6 which is high. Over the last 5 years the company has given a CAGR of 3.98% in sales which shows the company is trying to stabilize and grow in a competitive market. India is developing high speed train sets which can go up to 280 km/h. These trains are being designed and manufactured by Integral Coach Factory in collaboration with BEML.

#7 Rail India Technical and Economic Service (RITES)

RITES, the public-sector enterprise that’s been a driving force in India’s transport consultancy and engineering sector since 1974, has built a reputation as a global player. That reputation is built on its diverse range of services—and its presence in over 30 countries. RITES is the exclusive export arm of Indian Railways for rolling stock—everywhere except Thailand, Malaysia and Indonesia. One of the company’s most attractive features is its high dividend yield of over 3.95%. And it’s consistently delivered revenue growth at a rate of 3.68% each year for the past five years.

#8 Titagarh Rail Systems

Titagarh Rail Systems (formerly Titagarh Wagons) is an Indian engineering company founded in 1997 and is into manufacturing of railway wagons, steel castings and heavy engineering products. Headquartered in Kolkata, the company designs develops and produces a wide range of railway wagons including freight, tank, special purpose wagons and metro coaches. Apart from railway wagons, Titagarh Wagons also manufactures steel castings for various sectors like railways, automobiles, power plants and general engineering.

Titagarh Rail Systems has manufacturing units in West Bengal, Uttarakhand and Maharashtra and has a significant presence in India. Titagarh Rail Systems has delivered solid Q2 FY 2024 results. Total revenue was INR 1,057 crore and net profit was INR 67 crore. The company’s performance is reflected in its 25% RoCE for FY 2024.

However, the PE ratio of 36.4 might be a bit premium. With an order book of INR 28,000 crore as of 30th September 2024, Titagarh Rail is well positioned for growth and revenue visibility. The company has reported 5 year sales growth at a CAGR of 19.80%.

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#9 RailTel Corporation of India

RailTel Corporation of India a Mini Ratna public sector company established in 2000 provides telecom and networking services to Indian Railways, Govt. organizations and private clients.

These services include high speed internet, VPN, leased lines, video conferencing, data centre services, network management and passenger services like content-on-demand and Wi-Fi at major railway stations. RailTel has a fibre optic network of over 61,000+ route km and connects over 6,108+ railway stations across India. It trades at a PE of 34.8 with a sales growth of 21.10% CAGR in last 5 years.

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#10 Texmaco Rail & Engineering

Texmaco Rail & Engineering, a leading Indian engineering company, makes railway rolling stock and infrastructure. Founded in 1939 and based in Kolkata, Texmaco offers a complete range of railway products and services, wagons, coaches, locomotives and components.

With presence in both domestic and international markets and a strong R&D focus, it is a major player in the global railway industry. Part of the Adventz Group, led by Saroj Poddar, a conglomerate with interests in agrochemicals and real estate. PE of 21.6 and sales growth of 13.50% CAGR in last 5 years.

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Conclusion

The railway industry anticipates significant growth in the upcoming years, presenting expanded opportunities for businesses. Positioned at the brink of a revolution, the railway sector in India, whether through the introduction of high-speed trains or stake sales, is set for substantial advancement. This trajectory indicates massive growth opportunities for the companies covered in this article.

Top Railway Sector Stocks in India FAQs