Indian railway stocks jump as govt sets 2.4 trillion rupees outlay for sector

Ircon International

01/02/2023 07:08

** Shares of Indian railway stocks, Ircon International
 IRCN.NS , Rail Vikas Nigam  RAIV.NS , Titagarh Wagons
 TITW.NS , and IRCTC Ltd  INIR.NS  jump between 2.5% to 4.4%
after Finance Minister Nirmala Sitharaman announces outlays for
the sector in annual budget speech 
    ** Capital outlays of 2.4 trillion rupees ($29.32 bln) has
been set for railways - Sitharaman
    ** State-owned Rail Vikas Nigam rose as much as 4.4%,
hitting an over one-week high 
    ** Railway infra companies Ircon International and Titagarh
Wagons, gain as much as 2.5% and 3.3%, respectively
    ** Govt-owned IRCTC, or Indian Railway Catering and Tourism
Corporation, rise as much as 2.5% to hit highest level in a
month 
    ** RailTel Corporation of India Ltd  RAIT.NS  down 1.8%
after posting a Dec-qtr profit fall on Monday
($1 = 81.8450 Indian rupees)
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))