All railway-related stocks were trading higher today after Ashwini Vaishnaw retained the railway ministry in Modi 3.0, raising hopes for continuity in policies.
The ministry of road transport and highways and railway ministry have done the bulk of the expenditure given the higher allocation made to them.
The share price of the company opened higher at ₹164.05, up 0.36% as against the previous closing price of ₹163.45.
Road ministry says overspeeding is found to be a major killer, accounting for 71.2% of persons killed, followed by driving on the wrong side (5.4%)
Unlike previous years, the railway ministry got a higher jump in annual outlay for infrastructure upgrade.
The capital allocation to the highway ministry for 2023-24 stands at ₹2,58,605 crore.
Railway and highway ministries have incurred capital expenditure of ₹1,94,768 crore till February, against total allocation of ₹2,38,350 crore for FY22.
The railway ministry is expected to soon float tenders for the procurement of the freight wagons.
The rail stocks likely to be in focus today include IRCTC, Titagarh Wagons, Texmaco Rail and Engineering, BEML, and Siemens.
References pertain to fiscal 2019-20 when current commerce minister Piyush Goyal was also the railways minister.
