Shares of 10 companies whose fortunes are linked to orders from Indian Railways rose by 0.22% to 5% at 11:47 IST on BSE on reports the government is moving swiftly to allow foreign direct investment in railways.
Simplex Casting (up 5%), Stone India (up 4.91%), Kalindee Rail Nirman (Engineers) (up 4.26%), Texmaco (up 3.79%), Texmaco Infrastructure & Holdings (up 3.56%), Kernex Microsystems (India) (up 2.18%), BEML (up 1.87%), Bharat Heavy Electricals (up 1.76%), Hind Rectifiers (up 1.56%) and Container Corporation of India (up 0.22%), edged higher.
The S&P BSE Sensex was up 10.29 points, or 0.04% at 25,256.54.
The commerce and industry ministry has initiated the exercise to allow 100% foreign direct investment (FDI) in several segments of railways, moving beyond its earlier plan to open select sectors such as high-speed train systems, dedicated freight lines built through the public-private partnership route and in certain areas of suburban rail networks. Currently, there is a complete ban on any kind of FDI in railways, except mass rapid transport systems.
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