Shares of railway related stocks were on a roll, soaring up to 15 per cent on the bourses, amid heavy volumes on reports that the US, Saudi Arabia, India, and other nations are discussing a possible infrastructure deal that could reconfigure trade between the Gulf and South Asia, linking Middle Eastern countries by railways and connecting to India by port. The plan is to counter China’s Belt and Road global infrastructure push with a US backup.
Among the stocks, Ircon International hit a new high of Rs 153.65, surging 15 per cent on the BSE in Monday’s intraday trade. The counter saw huge trading volumes with nearly 26 million equity shares cumulatively changing hands in the first 11 minutes of trade on the NSE and BSE.
