Union Minister Ashwini Vaishnaw announced on Tuesday, 7th October, that the Union Cabinet has approved four major railway projects worth nearly Rs. 24,634 crores, spanning 18 districts across four states. These initiatives are set to add 78.4 million tonnes of new cargo capacity. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, gave its approval to these projects.
The approved projects include the Wardha–Bhusawal third and fourth line covering 314 km, the Gondia–Dongargarh fourth line spanning 84 km across Maharashtra and Chhattisgarh, the Vadodara–Ratlam third and fourth line of 259 km in Gujarat and Madhya Pradesh, and the Itarsi Bhopal–Bina fourth line of 237 km in Madhya Pradesh.
Collectively, these projects will extend the Indian Railways network by nearly 894 km, significantly boosting freight movement and connectivity. The multi-tracking projects will directly benefit connectivity to 3,633 villages, home to nearly 85.84 lakh people, and enhance infrastructure in two Aspirational Districts – Vidisha and Rajnandgaon. This development marks a significant step in strengthening India’s logistics network and fostering regional economic growth.
Following this announcement, a few railway stocks witnessed notable gains during Tuesday’s trading session, reflecting investor optimism over the Centre’s approval of these projects worth over Rs. 24,000 crores:
Jupiter Wagons Limited
With a market cap of Rs. 14,611 crores, the stock moved up by around 2.4 percent on BSE, to hit an intraday high at Rs. 346.5 on Tuesday. Jupiter Wagons Limited is engaged in the business of manufacturing railway wagons, wagon components, castings, metal fabrication comprising load bodies for commercial vehicles, rail freight wagons and components, with manufacturing facilities at Hooghly (WB), Jabalpur (MP), Indore (MP) and Jamshedpur (Jharkhand).
Rail Vikas Nigam Limited
With a market cap of Rs. 73,872 crores, the stock moved up by around 3 percent on BSE, to hit an intraday high at Rs. 356 on Tuesday. Rail Vikas Nigam Limited is a wholly owned Government Company, as a project executing agency working for and on behalf of the Ministry of Railways (MoR). It is in the business of executing and implementing all types of rail infrastructure projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, production units, institution buildings and sharing of freight revenue with Railways.
Titagarh Rail Systems Limited
With a market cap of Rs. 12,489.6 crores, the stock moved up by around 3.4 percent on BSE, to hit an intraday high at Rs. 929.45 on Tuesday. Titagarh Rail Systems Limited (TRSL) operates in Freight Rail Systems (FRS), comprising mainly Railway Wagons and Steel Castings and Passenger Rail Systems (PRS), which includes Metro Coaches, Passenger Coaches and Propulsion Systems.
TRSL is India’s only private-sector company engaged in manufacturing both freight wagons and passenger rolling stock, ranging from metro coaches to Vande Bharat (Sleeper Trains) and EMU trainsets. It commands roughly 25 percent market share in freight wagon manufacturing, consistently leading India’s tender awards in this segment.
Ircon International Limited
With a market cap of Rs. 17,178.5 crores, the stock moved up by around 7 percent on BSE, to hit an intraday high at Rs. 184.5 on Tuesday. Ircon International Limited commenced its business in 1976 as a railway construction company and diversified progressively since 1985 as an integrated engineering and construction PSU specialising in large and technologically complex infrastructure projects in various sectors such as railways, highways, etc. Presently, the company operates in more than 20 states across India and maintains a presence in Algeria, Sri Lanka, Myanmar, Nepal, and Bangladesh.
Written by Shivani Singh
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