BEML, RVNL: Rail stocks zoom up to 7% on new metro projects worth Rs 30k cr

Quick Summary:

Shares of railway companies saw a surge of up to 7 per cent on the BSE during intraday trading on Monday following the Union Cabinet's approval of metro projects exceeding Rs 30,000 crore.

Meanwhile Rail Vikas Nigam Ltd (RVNL) shot up by 3.42 per cent at Rs 589.90 per share.

On Friday, the government greenlit two corridors for Bangalore Metro Rail's Phase-3: Corridor-1, extending from JP Nagar 4th Phase to Kempapura with 21 stations, and Corridor-2, connecting Hosahalli to Kadabagere with nine stations.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Rvnl Union government Beml Titagarh Rail Systems Railway stocks Metro projects Buzzing stock

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-19 @ 13:09:18 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 455 words

Reading Time: 3 minutes read

Sentences: 19 lines

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Copyright Owner: © Business Standard

News ID: 22134837

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