Shares of state-run railway companies, IRCON International Ltd., Rail Vikas Nigam Ltd., (RVNL), RailTel Corp. of India Ltd., surged up to 6% after the Cabinet approved four new projects at the conclusion of its meeting on Tuesday, October 7.The cabinet has approved four new projects worth ₹24,634 crore, Railways minister Ashwini Vaishnaw announced on Tuesday.
The projects approved include:
- Bhusaval – Wardha third and fourth line worth ₹9,197 crore
- Gondia – Dongargarh fourth line worth ₹2,223 crore
- Vadodara – Ratlam third and fourth line worth ₹8,885 crore
- Itarsi – Bhopal – Bina fourth line worth ₹4,329 crore
IRCON, RVNL and other railway companies are involved in the supply and construction of railway infrastructure.Shares of IRCON International surged 7% after the announcement to ₹184.4. The stock is still down 15% in 2025 so far.
Shares of RVNL closed with gains of 2.6% on Tuesday at ₹355.6. The stock is down 17% year-to-date.
Shares of RailTel ended 3.5% higher at ₹398.2. The stock has risen 15% in the last one month and has nearly erased all of its losses for the year.
Most of the other railway stocks also ended at or near the highest point of the trading session.
