The sell-off in the railway stocks was triggered after FM Sitharaman earmarked a capex of ₹2.55 lakh crore for the Indian Railways, which is lower than industry expectations of ₹3 lakh crore.
The largecap stock, which made its share market debut on April 11, 2019, has risen more than 1,500% in the last five years.
According to the company, the strategic partnership is already underway with orders of propulsion equipment and TCMS for metro coaches in Gujarat.
The PSU company has secured orders worth around ₹665 crore for supply of rolling stock (3000 hp diesel electric locomotives and high sided open wagons).
The ticketing and catering arm of Indian Railways registered a 30.4% YoY rise in net profit at ₹279 crore, while revenue from operations jumped 39.6% YoY to ₹965 crore for Q4FY23.
The consortium of BHEL and Titagarh Wagons will supply 80 sleeper-class Vande Bharat trains within 72 months at the rate of ₹120 crore per train.
Boosted by record rise in capex for Railways, shares of IRCTC, Siemens, RVNL, KEC International, Titagarh Wagons rose up to 4% on the BSE.
