Rail-related stocks rally; RITES, Rail Vikas Nigam surge over 10%

Indian Railways has started the process to invite private players in passenger train operations.

Shares of rail-related stocks rallied up to 14 per cent in the early morning trade on the BSE on Thursday on the report that the Railways has started the process to invite private players in passenger train operations. The project would entail a private sector investment of about Rs 30,000 crore, it said.

The stock of RITES rallied 14 per cent to Rs 293, while Rail Vikas Nigam Limited (RVNL) surged 13 per cent on the BSE. Ircon International was up 10 per cent at Rs 99, followed by Indian Railway Catering and Tourism Corporation (IRCTC) - up 7 per