Railways stocks: Time to take a contrarian stand? Probably yes, with caution & hedge. 6 stocks: 1 buy, 1 hold, and 4 with sell recos

Last week, when the street was awash in red, one set of stocks saw a sudden spike: Railway stocks. One sector outperforming a strong bearish market is uncommon. But when it is a sector like railways, which did very well between January and July 2024 and has since been underperforming, it begs a few questions. One: Has the underperformance shaved off weak hands from the counters? Two: Does the street believe that valuations have corrected enough for it to give these stocks another look? Finally: As the growth of these companies is driven by government spending, will they get a boost after the budget?