1 week ago
Railway Stocks Rise After Government Approves Major Infrastructure Projects
The government approved several large transport projects.
Four of them will add more railway tracks on routes between Chennai and Howrah.
These projects will cost about Rs 9,450 crore and cover parts of four states.
Another approved project will widen a highway in Bihar.
Investors viewed the announcements positively.
Shares of several railway-related companies rose during early trading.
Titagarh Rail recorded the biggest increase among the companies listed.
Other firms, including RVNL, IRCON International and Jupiter Wagons, also gained.
Four railway multitracking projects linking Chennai and Howrah were approved at an estimated cost of Rs 9,450 crore.
The approved projects cover 410 kilometres across West Bengal, Odisha, Andhra Pradesh and Tamil Nadu.
A separate four-laning project for the Muzaffarpur-Sitamarhi-Sonbarsa section of National Highway-22 was approved at Rs 3,590.73 crore.
Titagarh Rail led early gains among listed railway stocks, rising 3.23% to Rs 858.95.
RVNL, IRCON International, Jupiter Wagons, Texmaco Rail, IRFC and RITES also recorded gains in early trading.
- Who
- Railway-related companies and investors; the approved projects involve government infrastructure authorities, though no specific approving body is named.
- What
- Four railway multitracking projects and one National Highway-22 four-laning project were approved, prompting gains in railway stocks.
- Where
- The railway projects are in West Bengal, Odisha, Andhra Pradesh and Tamil Nadu; the highway project is in Bihar.
- When
- During early trading on the day of the report; the report does not specify a calendar date.
- Why
- The stocks rose after the approval of major railway and road infrastructure projects, which investors viewed positively.
Key facts
- Railway project cost
- Rs 9,450 crore
- Railway track work
- Four multitracking projects covering 410 kilometres
- Highway project
- Four-laning of the Muzaffarpur-Sitamarhi-Sonbarsa section of National Highway-22
- Highway project cost
- Rs 3,590.73 crore
- Top stock gainer listed
- Titagarh Rail, up 3.23% to Rs 858.95
- RVNL movement
- Up 1.41% to Rs 226.30
- IRCON International movement
- Up 2.37% to Rs 125.50
Sources
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