After months of cautious trading, railway stocks are witnessing a renewed momentum as fresh orders flow in across the sector. Companies supplying rolling stock, signalling systems, and traction equipment are reporting sizable contracts from key government and private players, suggesting that railway infrastructure investment in India is regaining traction.
1. Rail Vikas Nigam Ltd (RVNL)
Rail Vikas Nigam Limited, a Navratna CPSE under the Ministry of Railways, was set up in 2003 to accelerate rail infrastructure projects through extra-budgetary resources.
Acting as an extended arm of the Ministry, RVNL executes new rail lines, doubling, gauge conversion, electrification, metro projects, workshops, bridges, and institutional buildings, catering to Indian Railways as well as central and state ministries, departments, and other PSUs. The company commands a market capitalization of Rs. 70,265.18 crore with a current market price of Rs. 337.
Recently, RVNL emerged as the lowest bidder (L1) for a significant project from West Central Railway. The order, dated 10th September, involves the design, modification, supply, erection, testing, and commissioning of a 220/132kV/2X25 kV Scott-connected traction substation and switching posts, including SCADA work between Bina to RTA section of the Bhopal Division. The project aims to meet a 3,000 MT loading target with a cost of Rs. 169 crore.
2. Texmaco Rail & Engineering Ltd
Texmaco Rail & Engineering Limited is a leading manufacturer and service provider for rail and rail-related products, operating through Heavy Engineering, Steel Foundry, and Rail EPC segments.
Its offerings include freight cars, loco components, steel castings, steel girders for railway bridges, pressure vessels, and turnkey rail EPC solutions such as track laying, signaling, rail electrification, and automated fare collection systems. The company has a market capitalization of Rs. 5,446.74 crore, with its stock trading at Rs. 136.35.
The company recently secured an order worth Rs. 86.85 crore from Ultratech Cement Limited, dated 18th September 2025. The order entails the supply of BCFC wagons along with a brake van, scheduled for delivery by March 2026.
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3. Kernex Microsystems
Kernex Microsystems (India) Limited, along with its subsidiaries, specializes in manufacturing safety systems and software solutions for railways. Its product portfolio includes level crossing protection, train collision avoidance, passenger information systems, axle counters, and power supply solutions. Kernex also provides turnkey product development, electronic design, embedded software, offshore development, and training services. The company has a market cap of Rs. 2,111.35 crore and is trading at Rs. 1,259.80.
Kernex, in consortium with KEC, recently received a letter of acceptance from West Central Railways, Bhopal, dated 19th August 2025. The order involves provision of KAVACH (an indigenous ATP system) on a UHF backbone with OFC route diversity across Itarsi (Excluding)-Khandwa (Excluding), Bina (Excluding)-Ruthiyai, and associated sections of the Bhopal Division. The project cost is Rs. 151.41 crore (including GST), with a completion period of 600 days from the date of LOA.
4. Jupiter Wagons Ltd
Incorporated in 1979, Jupiter Wagons Ltd manufactures railway wagons, wagon components, castings, and load bodies for commercial vehicles. Its products span freight and passenger wagons, track solutions, and accessories for rail coaches and OEMs, catering to rail logistics, defence, and road/marine sectors. The company holds a market cap of Rs. 13,902.31 crore, with shares trading at Rs. 327.50.
Jupiter Wagons’ subsidiary, Jupiter Tatravagonka Railwheel Factory Private Limited, secured two major orders. On 9th September 2025, it received an LOA from the Ministry of Railways for supplying 9,000 LHB axles for FIAT-IR bogies, totaling Rs. 113 crore. Earlier, on 21st August 2025, the subsidiary secured an additional Rs. 215 crore order for Vande Bharat wheelsets, strengthening its presence in high-speed rail components.
Written By Manan Gangwar
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