Tension has been increasing in countries around the world since the announcement of tariff by US President Donald Trump. The impact of the tariff is being seen on the US market as well as the Indian stock market. Dalal Street has been in the Red Zone continuously for the last five months. The Indian stock market is witnessing a decline after Trump’s announcement of tariffs.
4 railway multicraking projects were approved
The market cap of 9 companies out of the top 10 companies listed in the market has seen a decline. In such a situation, the Government of India has taken a big decision related to the railway on Friday, which is expected that its impact will be seen on railway stocks on Monday. Railway share will be in focus. Let us tell you that the Union Cabinet on Monday approved 4 railway multicraking projects worth Rs 18,658 crore, which will focus on railway PSU stocks including IRFC, RailTel Corporation of India and Rail Development Corporation Limited (RVNL).
Where will the budget be spent?
These 4 government schemes will cover the states of Maharashtra, Odisha and Chhattisgarh and their purpose will be to develop railway for 1,247 km. In this, the cabinet has approved investment of Rs 8,741 crore to construct a 615 km long new railway line in Chhattisgarh. Apart from this, a budget allocation of Rs 4,819 crore has been approved for doubling of railway line on Gondia-Balharshah road in Maharashtra. The 277 km long project has been approved for the construction of the third and fourth railway lines between Sambalpur and Jarapada in Odisha at a cost of Rs 3,917 crore. While the fourth plan includes the third and fourth lines between Jharsuguda and Sasan in Odisha.
What is the current price of the company’s shares?
IRFC shares fell by 2.69 per cent to close at Rs 125.69 per share on the last trading day i.e. Friday. At that time, the share price of Rail Development Corporation fell 2.39 percent to Rs 125. It closed at Rs 351.15 per share. Shares of RailTel Corporation of India fell 4.41 percent to Rs 1,000 on Friday. Closed at 298.
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