Ashwini Vaishnaw took oath as a railway minister for the second time in the Modi 3.0 government. This development led investors to anticipate the continuation of growth-oriented policy initiatives in the railway sector under the BJP-led NDA government.
Ashwini Vaishnaw took on the role of Railway Minister in July 2021 during the second term of the Narendra Modi government.
Under his term, the Indian Railways launched numerous semi-high-speed Vande Bharat trains. By March 31, 2024, the Vande Bharat fleet had grown to 102 trains, serving passengers across 284 districts nationwide.
In the fiscal year 2022-23, Indian Railways achieved a historic milestone by laying down 3,901 kilometers of new tracks, the highest ever recorded in its history. Vaishnaw played a pivotal role in overseeing this remarkable expansion of railway infrastructure.
Reports indicate that Minister Ashwini Vaishnaw is actively developing a comprehensive strategy aimed at increasing the railway’s passenger carrying capacity. This plan involves the introduction of 3,000 new trains within the next four to five years, intending to raise the current annual capacity from 800 crore to 1,000 crore. Additionally, Minister Vaishnaw is spearheading efforts to introduce integrated train sets comprising 22 coaches.
Furthermore, the central government has recently announced the rollout of 50 Amrit Bharat trains during the financial year 2024-25. These trains are specifically designed to enhance the passenger experience on non-Vande trains.
Below are some of the railway stocks that experienced gains following Ashwini Vaishnaw’s retain as the Railway Ministry.
Jupiter Wagons Ltd
Jupiter Wagons Limited is an Indian private manufacturer of railway wagons, passenger coaches, wagon components, and castings. The company is engaged in the business of manufacturing vehicle bodies for commercial vehicles and the production of Fully Built Vehicles (“FBVs”).
On Tuesday, Jupiter Waggons Ltd shares gained 9.5% to ₹682.80 per share, from the previous close price. The company is valued at ₹27,081 crore on the stock exchange.
Indian Railway Finance Corporation Ltd
Indian Railway Finance Corporation is engaged in raising funds to meet the developmental needs of the Indian Railways through various financial markets.
On Tuesday, Ltd shares gained 3% to ₹178 per share, from the previous close price.The company has a market capitalization of ₹2,30,528 crore on the stock exchange.
Texmaco Rail and Engineering Ltd
Texmaco Rail & Engineering Ltd manufactures rolling stock, hydro-mechanical equipment, steel castings, and the building of rail EPC, bridges, and other steel structures.
On Tuesday, Ltd shares gained 8.9% to ₹212.40 per share, from the previous close price.The company has a market capitalization of ₹8,268 crore on the stock exchange.
Ircon International Ltd
The company specializes in railways (new railway lines, rehabilitation, station buildings and amenities, bridges, tunnels, signaling and telecommunication, railway electrification), motorways, and EHV substations.
On Tuesday, Ltd shares gained 9.5% to ₹275.30 per share, from the previous close price. The company has a market capitalization of ₹25,408 crore on the stock exchange.
Railtel Corporation of India Ltd
Railtel Corporation of India is one of the country’s leading neutral telecom infrastructure providers, The Company facilitates co-location for equipment of telecom operators at Railway stations as well as offers broadband and VPN services.
On Tuesday, Ltd shares gained 11.5% to ₹428.70 per share, from the previous close price.The company has a market capitalization of ₹13,344 crore on the stock exchange.
Rail Vikas Nigam Ltd
Rail Vikas Nigam Ltd is a company that develops, finances, and implements rail infrastructure projects.
On Tuesday, Ltd shares gained 5% to ₹392.35 per share, from the previous close price.The company has a market capitalization of ₹80,794 crore on the stock exchange.
Indian Railway Catering & Tourism Corporation Ltd
IRCTC is a Mini Ratna (Category 1, Central Public Sector Enterprises ) and the only company authorized by the Indian government to provide online railway tickets, catering services, and packaged drinking water at railway stations and trains in India.
On Tuesday, Ltd shares gained 6% to ₹1,035.85 per share, from the previous close price. The company has a market capitalization of ₹81,828 crore on the stock exchange.
Written by Omkar Chitnis
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