IRFC, Ircon hit 52-week high: Here's why five railway stocks trade in green - Explained
Narendra Modi launched a new capital expenditure (capex) programme worth ₹24,470 crores to revamp 508 railway stations on Sunday. Share of Indian Railway Finance Corporation Ltd (IRFC) and Ircon International Ltd gained over 6%, and touched 52-week high, while shares of Rites Ltd, Railtel Corporation of India Ltd, and Jupiter Wagons Ltd gained over 0.4% to 5%.
Under the Amrit Bharat Station Scheme, which was conceptualised earlier this year with a goal to renovate more than 1,300 stations, the redevelopment is being carried out. The 508 stations are spread among 27 states and union territories, with 55 stations each in Uttar Pradesh and Rajasthan, 49 in Bihar, 44 in Maharashtra, 37 in West Bengal, 34 in Madhya Pradesh, 32 in Assam, 25 in Odisha, 22 in Punjab, 21 in Gujarat and Telangana, 20 in Jharkhand, 18 in Andhra Pradesh and Tamil Nadu, 15 in Haryana, and 13 in Karnataka, among others.
On Sunday, PM Modi laid the foundation stone for the renovation of 508 railway stations around the nation.To increase passenger capacity, boost employment creation, and serve as city centre, the stations are being renovated at a cost of ₹24,470 crore. Modern passenger amenities will be offered as part of the redevelopment, which will also ensure efficient traffic flow, intermodal integration, and passenger-guiding signs.
According to the ministry of railways, local culture, history, and architecture will serve as inspiration for the design of the station structures. “With time, railway stations have become the heart of cities.
That’s why it’s important that railway stations are modernised and the area is utilised in an optimum manner," Modi said. Also Read: Yatharth Hospital shares list at a muted premium of ₹4 per share on BSE.
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