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Railway Stocks Surge as Minister Announces Plans for New Coaches and Trains

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Shares of Rail Vikas Nigam Ltd (RVNL) have soared to new highs following an announcement by Railway Minister Ashwini Vaishnaw regarding the production of 2500 new general passenger train coaches. The stock recorded a 35.58% gain in two consecutive sessions. On BSE, RVNL’s trading volume surged significantly, reaching 1.15 crore shares.

Recently, RVNL signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation Ltd. This agreement aims to collaborate on various upcoming projects in India and internationally, including rail, metro, highways, bridges, and electrification projects. RVNL also won a Central Railway contract worth Rs 132.59 crore.

Railway Minister Ashwini Vaishnaw disclosed plans for manufacturing additional coaches, including 10,000 general passenger train coaches. He also mentioned the development of 50 new Amrit Bharat Trains, a luxury high-speed train service. With the government’s continued focus on railway infrastructure, expectations are high for growth-oriented announcements in the upcoming Union Budget.

Market analysts, including Sandeep Pandey from Basav Capital and Avinash Gorakshkar from Profitmart Securities, have highlighted the positive impact of the Minister’s announcements on railway stocks. Their expansion plans and the concerted effort towards infrastructure development have bolstered investor confidence, despite current market valuations.

Rachel Adams

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