Shares of Ircon International Limited, a key player in railway infrastructure, declined during early trade on January 17. On the BSE, the stock was trading at ₹217.00, down ₹3.40 or 1.54 per cent, while on the NSE, it was at ₹216.75, a drop of ₹3.66 or 1.66 per cent, as of 11.20 AM.

The decline comes amid heightened interest in railway and PSU stocks driven by speculation around the Union Budget. Market participants are anticipating a 15-20 per cent hike in capital expenditure for the Indian Railways, potentially increasing allocations to over ₹3 lakh crore for FY26, compared to ₹2.65 lakh crore in FY25. Such expectations have spurred activity in the railway sector, though broader market sentiment remains cautious.

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Ircon’s recent dip aligns with a bearish trend observed in the markets, as indicated by the Nifty forming a bearish Marubozu candlestick pattern in the previous session. Analyst VLA Ambala, Co-Founder, Stock Market Today expects railway infrastructure and service companies to benefit from the anticipated budgetary focus on public sector investments, though short-term volatility persists.

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