RVNL, IRCON, Jupiter Wagons, Titagarh Rail: Why railway stocks are rising today 

Shares of railway sector-related firms rose up to 3% on Thursday after The Cabinet Committee on Economic Affairs approved Four projects of Ministry of Railways with a total cost of Rs 9,450 crore. Amid a rally in the broader market, rail sector stocks rose up to 3% in early deals. While Titagarh Rail System Ltd shares gained 3.23%, Texmaco Rail & Engineering Ltd stock rose 2% in early deals. Other railway stocks such as RVNL (1.2%), IRCON International (2%), Jupiter Wagons (1.46%), IRFC (1.33%) and RITES (1.22%)  were the major gainers in early deals today.

These projects approved include:

Kharagpur – Bhadrak (Ranital) 4th Line – 173 km (West Bengal and Odisha)

Bhadrak – Haridaspur 4th Line – 75 km (Odisha)

Gummidipundi – Gudur 3rd and 4th Line – 90 km (Andhra Pradesh and Tamil Nadu)

Cuttack – Paradeep (Badabandha) 3rd and 4th Line - 72 km (Odisha)

Four railway multitracking projects connecting Chennai to Howrah at an estimated cost of Rs 9,450 crore, alongside the Rs 3,590.73-crore four-laning of the Muzaffarpur-Sitamarhi-Sonbarsa section of National Highway-22 in Bihar are approved.

Titagarh Rail shares gained 3.23% to Rs 858.95 in early deals against the previous close of Rs 832.35. Market cap of the firm rose to Rs 11,486 crore. A total of 0.42 lakh shares of the firm changed hands amounting to a turnover of Rs 3.56 crore.

Texmaco Rail stock rose 2.58% in early deals to Rs 105.55 against the previous close of Rs 102.65. Market cap of the firm rose to Rs 4248 crore. A total of 0.48 lakh shares of the firm changed hands amounting to a turnover of Rs 50.32 lakh.

RVNL shares rose 1.41% to Rs 226.30 against the previous close of Rs 223.10. Market cap of the firm rose to Rs 47,215 crore. A total of 0.64 lakh shares of the firm changed hands amounting to a turnover of Rs 1.44 crore.

IRCON International stock gained 2.37% to Rs 125.50 against the previous close of Rs 122.60. Market cap of the firm rose to Rs 11,803 crore. A total of 0.37 lakh shares of the firm changed hands amounting to a turnover of Rs 46.39 lakh.

Jupiter Wagons stock gained 1.46% to Rs 252.20 against the previous close of Rs 248.55. Market cap of the firm rose to Rs 10,748 crore. A total of 0.35 lakh shares of the firm changed hands amounting to a turnover of Rs 86.92 lakh.

IRFC stock gained 1.33% to Rs 86.24 against the previous close of Rs 85.10. Market cap of the firm rose to Rs 1.12 crore. A total of 1.86 lakh shares of the firm changed hands amounting to a turnover of Rs 1.59 crore.

RITES shares gained 1.70% to Rs 220.75 against the previous close of Rs 216.70. Market cap of the firm rose to Rs 10,609 crore crore. A total of 8039 shares of the firm changed hands amounting to a turnover of Rs 17.65 lakh.