Why did Rail Vikas Nigam, RailTel Corp and other railway stocks jump up to 5%? Explained
Railway stocks came under renewed buying interest during Monday’s trading session, December 22, with RailTel Corporation of India, Rail Vikas Nigam, Ircon International, IRFC and Indian Railway Catering & Tourism Corporation surging anywhere between 1% and 5%.
The rally followed the Indian Railways’ announcement of a rationalization of passenger fares on Sunday, with a revised fare structure set to take effect from December 26, aimed at balancing rising operational costs while minimizing the impact on passengers.
