Page 11 - Indian Railways

Railways mismanaged land purchase for Hajipur-Sagauli project: House panel

The Hajipur-Sagauli New Line project, sanctioned in 2003-04 at an estimated cost of Rs 24.66 crore, registered a huge cost escalation of Rs 2,066.78 crore in January 2019 due to indecisiveness of the Railway Administration, according to a Public Accounts Committee (PAC) report. Tabled in the Lok Sabha on Wednesday, the report titled 'Loss due to indecision of Railway Administration in the matter of land acquisition: East Central Railway' was based on one of the findings of a Comptroller and Auditor General (CAG) report of 2021. After carrying out a detailed examination, the PAC observed that the railways' lack of prudent decision-making and timely payments resulted in avoidable extra expenditure, underscoring the importance of meticulous financial planning and adherence to land acquisition policies. "The Hajipur-Sagauli New Line project, sanctioned by the Ministry of Railways in 2003-04, underwent a series of financial oversights and lapses in land acquisition processes, leading to

Railways made Rs 6.85 cr irregular payment to foreign vendor: House panel

The Banaras Locomotive Works (BLW) of Indian Railways purchased equipment from a foreign vendor worth Rs 6.85 crore in 2017 for diesel locomotives whose production was already stopped, according to a Public Accounts Committee (PAC) report. The committee, which tabled its report in Lok Sabha on Wednesday, expressed surprise that the vendor had delivered the equipment beyond the delivery schedule in violation of the purchase agreement and BLW would have rejected the supply. However, it agreed to buy at approximately 36 per cent discounted price, the report said. The issue relates to the purchase of 660 channel air boxes in November 2018 for manufacturing diesel locomotives. According to the report, in view of increasing electrification of routes, the Railway Board decided in May 2016 to manufacture electric locomotives at BLW and this was started from February 2017. From 2019-20, the production of diesel locomotives at BLW was completely stopped. The committee said that in May 2016,

82 Vande Bharat trains operational, work on to enhance speed to 160 kmph

The number of Vande Bharat trains has been increased to 82 and work is underway to increase the speed of these trains to 160 kilometres per hour on the New Delhi-Mumbai and New Delhi-Howrah routes, the government informed Parliament on Wednesday. In a written reply in the Lok Sabha to questions raised by 10 MPs regarding the services of the Vande Bharat trains, Railway Minister Ashwini Vaishnaw said, "As on January 31, 2024, 82 Vande Bharat train services are operating across the Indian Railways, connecting states having Broad Gauge (BG) electrified network." "Besides, provision of stoppage of train services and introduction of new train services, including Vande Bharat, are ongoing processes on Indian Railways subject to traffic justification, operational feasibility, resource availability etc.," he added. "Train-wise and state-wise revenue generated is not maintained," the minister said to questions on the state-wise average income generation from the Vande Bharat trains. Vaishna

Freight target miss in FY24 set to dent Railways' ambitious growth plan

Grappling with capacity concerns, this is the first post-pandemic Budget where the railways will miss its targets set at the beginning of the financial year

10 Vande Bharat sleeper trains to be rolled out from March this year

The Vande Bharat trains will have sleeper coach express trains for a more comfortable journey. The first 10 Vande Bharat Sleeper coaches trains will run on track from March 2024

IRCTC eWallet: How to use eWallet for online train booking?

Leverage IRCTC eWallet to book train tickets online. It has several benefits, like you can check transaction history and wallet history, and use transaction password features as well

TRSL Q3 result: PAT rises 91.3% to Rs 75 cr, revenue reaches Rs 954 cr

Titagarh Rail Systems Ltd (TRSL) on Monday said its profit after tax in December quarter rose 91.3 per cent to Rs 75.03 crore. The company had posted a PAT of Rs 39.22 crore in the year-ago period, TRSL said in a filing to BSE. Net revenues during the third quarter increased to Rs 954.68 crore from Rs 766.4 crore in the year-ago period. "The company's robust performance in Q3 FY24 is a reflection of our sustained operational momentum. On a year-over-year basis, the freight rolling stocks/passenger rolling stocks recorded substantial growth. "The government's unwavering emphasis on the building of world-class rail infrastructure in India makes us enthusiastic about higher and sustained growth in the upcoming quarters," TRSL Vice Chairman and Managing Director Umesh Chowdhary said. TRSL offers mobility solutions with its presence in both the passenger and freight rail systems including railway wagons, components, passenger coaches and metro coaches.

A Budget for extracting outcomes from outlays given to Indian Railways

The year 2023 was a golden era for Railways' passenger business. Intercity passenger journeys at the end of Q3FY24 touched 2.2 billion, a 16 per cent growth over the previous year

Interim Budget: Railways get 3 new corridors; 40,000 bogies to be upgraded

Proposals will lead to safety and higher travel speed for passengers, says Finance Minister

IRCTC, L&T, RVNL: How to trade rail, infra stocks ahead of Budget?

Barring IRFC, RVNL which have rallied sharply in the recent pasts, other rail-related stocks like IRCTC, Titagarh Rail Systems and RailTel could rally up to 23 per cent, suggest charts.

Wabtec wins $157 mn order for train braking system from Siemens India

Siemens is manufacturing locomotives for Railways at the national transporter's factory in Dahod

Northern Railways helps Maruti export Jimny cars to African countries

Maruti Suzuki India has collaborated with Delhi Rail Division of Northern Railway to transport its Jimny cars to western ports through freight trains, which will be further transhipped in vessels to African nations, an official statement said. According to the statement, Sukhvinder Singh, Divisional Railway Manager, flagged off the first freight train with 98 cars on Tuesday from Farukhnagar station in Gurugram to Pipavav Port (West Coast) in the presence of the senior officials of Maruti as well as Delhi Rail Division. "Delhi Division, Northern Railway has become the preferred partner of Automotive Industries and in a major boost to increase export of automobile, M/s Maruti Suzuki India Limited is now transporting Maruti Cars of Jimny model to Western ports, which are further being transhipped in vessels to African nations. "The first rake was loaded on January 23, 2024, from Farukhnagar station to Pipava Port. The rake composition consists of 25 NMG (New Modified Goods) type ...

Two bogies of Kannur-Alappuzha Executive Express derail, train delayed

Two bogies of the Kannur-Alappuzha Executive Express derailed near Kannur railway station during the shunting process on Saturday morning, causing a one-hour delay in the train's departure, railway sources said here. The incident took place at 4.40 am as the train was being brought to the platform, with no passengers on board. The derailment occurred in the rearmost two bogies, damaging the signal box in the process. Fortunately, since the incident happened on a track parallel to the main track, other train services were unaffected, they said. The train journey proceeded after the derailed bogies were separated. Railway officials are currently conducting an inquiry to determine the cause of the derailment.

These 2 rail-related stocks have zoomed over 75% thus far in Jan

IRFC with market capitalisation of Rs 2.3 trillion today surpassed other state-owned companies like Power Grid Corporation (Rs 2.23 trillion), IOCL (Rs 2.11 trillion) and HAL (Rs 2.01 trillion).

Train services affected as protestors block railway tracks in Jalpaiguri

Train services were affected as members of the All Kamtapur Students' Union (AKSU) blocked the railway tracks in West Bengal's Jalpaiguri district on Friday morning to press for their demand for a separate state. The blockade at the Betgara station in the New Jalpaiguri-New Bongaigaon section of the Northeast Frontier Railway began at 7 am, officials said. The blockade has disrupted train services on the all-important route. Among the trains affected were the New Jalpaiguri-Guwahati Vande Bharat Express, they said. Officers of the RPF and the state police were talking to the protestors, and trying to persuade them to remove the blockade, they added. The protesters said the blockade would continue till 7 pm, but railway officials said they were hopeful of an earlier resumption of services. The protesters raised slogans against both the TMC and BJP for not fulfilling their demand. The AKSU is the students' wing of the Kamtapur People's Party United, which is agitating for a separat

Should railways revise approach towards general, sleeper class travellers?

According to estimated figures based on the FY24 Budget, passenger travel in the general and second classes, which account for a bulk of mass transit, is lower than it was in 2008-09

Revamped stations will reflect, promote cultural heritage of city: Vaishnaw

Railway stations are an integral part of culture and people's day-to-day life and these should reflect, protect and promote an area's cultural heritage, Railway Minister Ashwini Vaishnaw said, citing redevelopment projects in Ayodhya and Puri. While the architecture of the facade of the redeveloped station in Ayodhya in Uttar Pradesh embraces tradition in a line with the upcoming Ram temple there, the redeveloped Puri station will reflect the traditional architectural features of the famed Jagannath Temple. "The more you gel a railway station with a city the better it is. Development should be such that cultural heritage should get a place in it. It should be protected and reflected significantly," the minister told PTI in Bhubaneswar on Sunday. He was in the city to review its station's redevelopment. In 2021, the Railway Ministry had launched the Amrit Station Scheme. Under it, 1,309 railway junctions are being redeveloped with a special focus on safety and amenities for ...

This railways related stock surpasses Tata Steel, Jio Fin, VBL in m-cap

With market cap of Rs 1.74 trillion, IRFC now stands at 41st position in overall market cap ranking on Monday, the BSE data shows.

As dense fog takes over North India, 18 Delhi-bound trains running late

As many as 18 Delhi-bound trains were reported running behind schedule due to fog, railway officials said on Monday. Flight services were also disrupted in the national capital with visibility dipping

World Economic Forum: Davos-bound squad aims to turn spotlight on India

Top honchos from India Inc, finance, govt heading to the World Economic Forum