IREDA, BEML, Rail Vikas Nigam, SAIL, NALCO, IRFC shares were among major losers in PSU segment while overall trend in the Indian markets was negative. NSE Nifty declined 156 points at close and overall market sentiment was bearish. PSU major BEML has announced first ever stock split. BEML was down by 3.58 percent and the stock closed the session at Rs 4,000. TopNews Team has reviewed technical charts for these six PSU counters for short term investors and traders.

BEML Eyes Stock Split: Fresh Liquidity, Fresh Attention

BEML has captured headlines with its proposal to consider a 1:2 stock split at an upcoming July 2025 board meeting, a step the company has never before taken in its storied history. The move aims to enhance liquidity and attract more retail participation—objectives that often trigger positive momentum in undervalued or under-owned stocks. If approved, this split could act as a catalyst for renewed buying interest, particularly as splits are historically seen as votes of managerial confidence.

Despite BEML’s robust performance—rising nearly 50% in the last quarter and peaking at a 52-week high of Rs 5,205—the stock has faced short-term setbacks. News of the board decision and sector-wide profit booking led to a quick pullback, with shares closing at Rs 3,994.70 as of July 28, 2025.

On the operational front, BEML’s $6.23 million in new CIS and Uzbekistan orders signal continued relevance in export markets. Still, the company’s high P/E of 62.2 and P/B of 7.16 signal frothy valuation, and a beta of 1.5 reinforces its volatility. Market capitalization stands at Rs 16,688 crore. Retail investors would do well to note the balance between short-term technical risks and the long-term value a split could unlock.

RVNL: Project Pipeline Strong, Stock Price Under Pressure

Rail Vikas Nigam Ltd. (RVNL) continues to secure marquee contracts—most recently a Rs 213 crore South Central Railway order for power supply upgrades. Such wins reinforce RVNL’s position in railway EPC and bolster confidence in its robust order book.

Ironically, these operational highs have not translated into recent share price strength. Following a period of overvaluation and subsequent profit-taking, RVNL stock has slipped 39.4% over the past year, down 10.8% year-to-date. FY25’s Q4 net profit logged at Rs 459 crore marks a modest YoY decline, and the proposed final dividend is set at Rs 1.72 per share.

Consensus targets, hovering around Rs 340–350, imply limited upside, reflecting both the tempered market view post-rally and S&P Global expectations for only modest medium-term growth. Nonetheless, investor focus stays glued to RVNL’s lengthy project pipeline and India’s enduring capex thrust on railways, both of which serve as longer-term growth anchors.

SAIL: Profit Volatility Shadows a Fundamentally Strong Name

SAIL’s first quarter of FY26 encapsulates the best and worst of steel cyclicality. Net profit soared to Rs 745 crore, up sharply year-on-year from just Rs 82 crore, yet fell 40.5% sequentially. Revenue followed suit: down 12% versus the previous quarter, but up 8% from last year. Such sequential misses triggered a 5% intraday selloff.

With Chinese demand for property and construction still muted, and global steel prices under pressure, the mood among brokerages has turned somber. Morgan Stanley’s downgrade to ‘underweight’—with a price target slashed from Rs 132 to Rs 105, nearly 19% below current levels—hints at skepticism about operational leverage in the near term. Some, like Centrum Broking, point to potential re-rating from capacity expansion, but insist on prudent capex control.

In essence, SAIL’s challenges are emblematic of both sector weakness and the penalty for missing near-term numbers—even as the medium-term investment thesis remains alive for those with patience.

NALCO: Resilient Amid Commodity Volatility, But Upside Tied to Global Cycles

NALCO emerged from Q1 with a strong showing in return on equity—achieving 29.6% in FY25, well above its five-year average. There’s little doubt the company’s 3-year revenue CAGR stands out among Indian peers, underpinning long-term optimism. Yet that hasn’t shielded the stock from fickle market moods: down 3% for the week and 1.6% for the month as investors took some profits.

Across the non-ferrous universe—inclusive of Hindalco and Vedanta—volatility has become a mainstay, driven by unpredictable Chinese demand and commodity swings. Despite such turbulence, NALCO’s PE ratio of 6.75 and P/B of 2.0 indicate it is trading at a substantial discount to sector averages. Its market cap is a healthy Rs 34,474 crore; shares are up 17.4% in the last three months but essentially flat over 12.

Analyst sentiment is split, with 3 calling it a ‘strong buy,’ 5 at ‘hold,’ and 2 at ‘sell’ or ‘strong sell.’ Until global pricing stabilizes, the stock offers margin of safety but capped upside.

IRFC: Correction Phase Follows Spectacular Multi-Bagger Rally

Perhaps no stock has illustrated the perils of euphoric rallies quite like IRFC. After notching a 551% three-year return, shares are now down almost 35% for the year and range-bound between Rs 132 and Rs 136, with technical resistance looming large.

Despite posting record Q1 profits of Rs 1,746 crore (up 11% YoY), the stock has struggled to break out of its bearish pattern. Analyst coverage is light, and the lone prominent voice in the market maintains a ‘strong sell’ view—citing extended valuations and risk of further correction. Nonetheless, IRFC’s market cap remains robust, and its staggering 541% three-year return still dwarfs sector averages.

From a technical perspective, investors are advised to avoid fresh entries until a clear breakout above Rs 136, with downside risks targeting support at Rs 132 or Rs 130.

IREDA: Post-Euphoria Correction and Bearish Technicals Dominate

IREDA’s path has been equally dramatic, if inverse. Shares are down 28% year-to-date and 41% over 12 months, underperforming its renewable energy peers after a meteoric 2024. The stock now languishes below critical moving averages, with RSI at 38.6 and MACD at -2.5—figures that represent clear negative momentum.

Resistance near Rs 185 and support at Rs 135 define the near-term battleground. Most technical analysts agree: without a decisive break above Rs 170–180, the risk is for continued correction. Consensus revolves around one strategic piece of advice: wait for a robust reversal before entering.

Key Takeaways for Investors: Catalysts, Consolidation, and Caution

Several distinctive themes emerge from the shifting fortunes of India’s infrastructure giants:

• BEML’s proposed stock split could energize retail interest, though rich valuations demand caution.
• RVNL’s relentless contract wins underscore operational strength even as share prices stagnate.
• SAIL faces sectoral and operational pitfalls, with downgrades currently outweighing medium-term positives.
• NALCO trades at a discount, offering a margin of safety amid sector uncertainty.
• IRFC and IREDA exemplify the aftermath of breakneck rallies: range-bound price action, technical resistance, and a wary analyst chorus.