Rail-linked stocks gain on Cabinet nod to Rail Development Authority

Texmaco Rail,Titagarh Wagons, Kernex Microsystems, BEML and Stone India rallied up to 19% on BSE.

Shares of railway related companies such as Texmaco Rail & Engineering, Titagarh Wagons, Kernex Microsystems, BEML and Stone India rallied up to 19% on the BSE in intra-day trade after the government approved setting up of Rail Development Authority.

“The Cabinet on Wednesday approved the formation of an independent rail regulatory authority (RDA) to determine tariffs ensuring fair play and level playing field for private players keen on investment in the railways,” the PTI report suggests. CLICK HERE TO READ FULL REPORT

RDA will help the government to take appropriate decisions on pricing of services commensurate