The Indian government planned to redevelop 1300 major railway stations across the country under the Amrit Bharat Station Scheme. Redevelopment of 508 railway stations began on August 6,2023 after Prime Minister Narendra Modi laid the foundation stone for the projects, which are estimated to cost $3 billion (Rs 24,470 crore).
Under the redevelopment project, 508 stations, spread across 27 states and Union Territories will be fully revamped in two years.The redevelopment will provide modern passenger amenities along with ensuring well-designed traffic circulation, inter-modal integration and well-designed signage for the guidance of passenger
In the coming years, the government aims to generate green energy from every railway station.
The five railway-related stocks listed below rose up to 12.5% today
Rail Vikas Nigam Ltd
Rail Vikas Nigam Ltd shares rose 2.6 percent on Monday, closed at Rs 125.15, up 2.04 percent from the previous close price, with a market value of Rs 26,094 crores.
Rail Vikas Nigam Ltd is in the business of project development,financing and implementing rail infrastructure projects.
Railtel Corporation of India Ltd
Railtel Corporation of India Ltd shares gained 4.3 percent on Monday and closed at Rs 173, up 2.52 percent from the previous close price, with a market value of Rs 5,552 crores.
Railtel Corporation of India is one of the country’s leading neutral telecom infrastructure providers, Company facilitates co-location for equipment of telecom operators at Railway stations as well as offers broadband and VPN services.
Ircon International Ltd
Ircon International Ltd shares increased 8 percent on Monday and closed at Rs 101.80, up 6.21 percent from the previous close price, with a market value of Rs 9,574 crores.
The company specialises in railways (new railway lines, rehabilitation, station buildings and amenities, bridges, tunnels, signalling and telecommunication, railway electrification), motorways, and EHV substations.
Indian Railway Finance Corporation Ltd
Indian Railway Finance Corporation Ltd shares rose 12.5 percent on Monday, closed at Rs 49.75, up 10.43 percent from the previous close price, with a market value of Rs 65,015 crores.
Indian Railway Finance Corporation is engaged in raising funds to meet the developmental needs of the Indian Railways through various financial markets.
Texmaco Rail and Engineering Ltd
Texmaco Rail and Engineering Ltd shares gained 7 percent on Monday, closed at Rs 107.80, up 6.42 percent from the previous close price, with a market value of Rs 3,469 crores.
Texmaco Rail & Engineering Ltd manufactures rolling stock, hydro-mechanical equipment, steel castings, and the building of rail EPC, bridges, and other steel structures.
Written by Omkar Chitnis
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