Railway related stocks rally as Cabinet approves 100% FDI proposal

some railway operations and projects were allowed to receive up to 100% FDI.

The Union Cabinet approves proposal to set the composite cap for foreign investment in the defence sector at 49%, compared with the current 26% foreign direct investment (FDI) ceiling.

Report said that some railway operations and projects were allowed to receive up to 100% FDI.

This move came after the Cabinet approved similar proposal to set the composite foreign investment cap for private insurance firms at 49 per cent.

Following the cabinet plan to raise the amount of FDI in defence and railways industries, stocks associated with defence and railways will be on investors’ radar.