After Suresh Prabhu’s visit to Rajasthan, railway stocks rally on Indian stock exchanges

From making multiple developments in the state across various realms, Rajasthan government has now shifted focus to boosting rail network in the state.

Suresh Prabhu, Union Railway Minister recently visited the desert town and here are quick takeaways of his visit:

For the purpose of accelerating the growth in Rajasthan, the Centre is laying huge impetus on building infrastructures and railway facilities, Minister Prabhu said.

Henceforth, railway companies which are listed on the bourses surged higher in anticipation of orders and other positive news. Suresh Prabhu’s statement infused optimism in the otherwise dull sentiments on railways.

The Thursday trading session was a massive victory for the railways’ stocks which rallied to considerable highs on the back of minister’s statements.

Here are the various stocks which surged higher in the wake of Suresh Prabhu’s statement.

Siemens, which is prominent player in the market of providing ancillary parts of railways traded a tad bit higher on Thursday. The stock rose by 1.6% to trade at 1,355.65 per share on BSE.

Likewise, Titagarh Wagons, another company involved in manufacturing railway engines surged higher by 0.67% and ended at Rs 119.5 per share.

On the same lines, BEML, a manufacturer of rail coaches and spare parts, rallied over 2.2% or traded at Rs 1,542.1 per share on BSE.

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