New Delhi, Aug. 13 -- Railway stocks were the trade nobody wanted to miss two years ago. In 2026, they have become the trade nobody wants to be caught holding.

The correction has been broad. Rail Vikas Nigam, Ircon, Texmaco, and Jupiter Wagons have all fallen sharply, as the sector gives back gains made when railway capex first captured investors' imagination.

IRFC has been among the hardest hit. The stock touched a 52-week low of Rs.86.02 and closed at Rs.88.80 on 7 August 2026, about 35% below its 52-week high of Rs.137.17, and roughly 30% lower over the past year and about 22.5% down in six months.

It is barely 3% above its 52-week low and has traded below every key moving average, from the 5-day to the 200-day, for months.

Yet the...