New corridor may drive big gains for rail, infrastructure companies

IMEC may bolster India's energy security and climate goals, say experts; PSU rail stocks surge up to 20%

The India-Middle East-Europe Economic Corridor (IMEC) -- a landmark announcement made on the sidelines of the just-concluded G20 summit in New Delhi -- is expected to provide a boost to key railway and port infrastructure companies like Ircon International, Rail Vikas Nigam Ltd (RVNL), Larsen & Toubro (L&T), Tata Projects, and GMR, experts said.

Ports on the western coast of India, such as state-owned Jawaharlal Nehru Port Trust (Navi Mumbai) and Deendayal Port Authority (Kandla), the Adani group-owned Mundra Port, and APM Terminals-owned Pipavav Port, also have the potential to benefit immensely from this corridor, they said.

The proposed corridor,