Railway stocks, including RailTel Corporation of India Ltd, Texmaco Rail & Engineering Ltd, RITES Ltd, Rail Vikas Nigam Ltd (RVNL), BEML Ltd, and IRCON International, witnessed significant surges on Monday, with gains of up to 15 percent. RailTel soared by 16.68 percent, hitting a 52-week high of Rs 194.10, eventually settling 14.70 percent higher at Rs 190.80. The company recently secured an order worth Rs 27.91 crore from Kerala State Information Technology Infrastructure for a fiber optic network.
Texmaco Rail & Engineering Ltd experienced a 17.97 percent surge, reaching a one-year high of Rs 154.60, closing the session with a gain of 13.28 percent at Rs 148.45. RITES, the engineering consultancy firm, rose by 4.94 percent to close at Rs 482.40 after emerging as the Lowest Bidder (L-1) in a tender by the Railway Board and signing an MoU with NHPC for hydropower projects.
RVNL, the construction arm of Indian Railways, moved 2.38 percent higher to settle at Rs 126.85. BEML climbed 3.20 percent to close at Rs 2,169.35 after securing an export order from Russia and a contract from the Ministry of Defence. IRCON rose by 1.51 percent to finish at Rs 109.40.
Indian Railway Catering and Tourism Corporation (IRCTC) and Bharat Heavy Electricals Ltd (BHEL), an electric locomotive supplier, gained 3.03 percent and 4.04 percent, respectively.
Overall, the railway sector's positive momentum contributed to gains in the Indian equity benchmarks, with the BSE Sensex climbing 110 points or 0.17 percent to settle at 64,997, and the NSE Nifty index moving 40 points or 0.21 percent higher to close at 19,306, halting a two-day losing streak.
(With Agency Inputs)
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