Shares of 12 companies whose business is related to railways rose by 0.03% to 4.92% at 9:31 IST on BSE after the government revised passenger fare and freight rates on Friday, 20 June 2014.
Stone India (up 4.92%), Kalindee Rail Nirman (Engineers) (up 4.52%), Texmaco Infrastructure & Holdings (up 3.64%), Simplex Casting (up 3.25%), Titagarh Wagons (up 2.60%), Container Corporation of India (up 2.34%), Hind Rectifiers (up 1.74%), Kernex Microsystems (India) (up 0.93%), Bharat Heavy Electricals (up 0.80%), BEML (up 0.74%), NELCO (up 0.46%) and Transformers & Rectifiers (India) (up 0.03%), edged higher.
The S&P BSE Sensex was up 74.36 points, or 0.30% at 25,179.87.
Fare and freight hike will improve Railway finances. The decision to raise passenger fares by 14.2% and freight charges by 6.5% effective 25 June 2014 will reportedly help Indian Railways raise an additional Rs 8000 crore in the financial year. Better finances are expected to increase investments in infrastructure by the railways. It is expected that it could move to increase capacity and take steps towards modernisation of its network and infrastructure. Other issues likely to be in focus include safety and decongestion, added reports.
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