Indian Railway Finance Corp gains after government grants more autonomy

Indian Railway Finance

04/03/2025 08:33

** Indian Railway Finance Corp INID.NS up as much as 3.80%, last up 2.07% at 113.45 rupees

** Govt upgrades co to 'Navratna' status from 'Miniratna I', granting more financial autonomy

** Stock on track to snap a 5 session losing streak

** 'Navratna' public sector cos can invest upto 10 billion rupees or 15% of net worth in a single project without needing prior govt approval

** These cos have more operational flexibility; can establish overseas subsidiaries, form joint ventures etc

** As of 1330 IST, more than 33.29 mln shares changed hands - 1.4x the 30 day avg daily vols

** With session's gains, stock trims 12-month decline to ~22%

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))