Railway shares IRFC, RVNL, Ircon up by 11%, know why

Shares of Rail Vikas Nigam Limited (Rail Vikas Nigam Limited) was trading higher by around 11 per cent at 2:36 pm 86.56. The stock touched a record high 87.50 on Monday.

whereas, that IRCON International jumped 10.28 percent to reach a day’s high 69.65, was currently trading 6.57 percent higher 67.30. shares of IRFC But was trading with a speed of 4.46 percent 29.30.

On Sunday, it was reported that Indian Railways will start production of 120 Unnat vande bharat Express trains till August 2023. This could be a possible reason for today’s sharp increase in some railway counters.

“At least 120 upgraded Vande Bharat trains will be manufactured at the Marathwada Railway Coach Factory in Latur and efforts are on to start production by August,” news agency PTI quoted Union Minister Raosaheb Danve as saying. The tender process for coach manufacturing is in the final stages and the contract will be finalized soon, the report also mentioned.

Talking to reporters, Danve said that the Center has approved 600 crores to set up a coach factory at Latur and efforts are on to start operations of the facility at the earliest. The contract process with a consortium of Russia and Indian Rail Vikas Nigam Limited (RVNL) is underway, he said, adding that the actual coach production is expected to begin by August.

Prime Minister Narendra Modi has announced plans to launch 400 new Vande Bharat trains in the country, and of these, 120 will be manufactured in Latur. The minister said that if needed, 80 more trains will also be made in this factory.