Railway stocks surge in trade

New Delhi, August 28 (SocialNews.XYZ) Railway stocks were the top gainers in trade on Monday with Texmaco Rail and Railtel up more than 10 per cent.

Texmaco was up more than 11 per cent at Rs 145.80 on the BSE, while Railtel was up almost 11 per cent at Rs 184.50.

RITES is up more than 5 per cent at Rs 484 on BSE. 

Railway stocks are in momentum on account of the strong order book and rising allocation in the rail infrastructure by the government, analysts said.

Railway stocks have been in focus following the government move to redevelop 508 train stations in the country.

Earlier this month, Prime Minister Narendra Modi had laid the foundation stone for the redevelopment of 508 railway stations across the country.

Redeveloped at a cost of more than Rs 24,470 crore, these 508 stations are spread across 27 states and union territories, including 55 each in Uttar Pradesh and Rajasthan, 49 in Bihar, 44 in Maharashtra, 37 in West Bengal, 34 in Madhya Pradesh, 32 in Assam, 25 in Odisha, 22 in Punjab, 21 each in Gujarat and Telangana, 20 in Jharkhand, 18 each in Andhra Pradesh and Tamil Nadu, 15 in Haryana, 13 in Karnataka among others.

The redevelopment will provide modern passenger amenities along with ensuring well-designed traffic circulation, inter-modal integration and signage for the guidance of passengers.

The design of the station buildings will be inspired by local culture, heritage and architecture.

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Source: IANS