Railway stocks jump up to 10% led by Jupiter Wagons, IRCTC as Ashwini Vaishnaw assumes charge as Minister of Railways
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Railway stocks jumped up to 10% after Ashwini Vaishnaw took charge as the Indian Railway minister continuing from his previous stint. The gains were led by Jupiter Wagons which shot up to the day's high of Rs 682.90 on the NSE, gaining 10% on the intraday basis. It was followed by Texmaco Rail & Engineering and Indian Railway Catering and Tourism Corporation (IRCTC), which surged 6% each as of noon. The other gainers were Rail Vikas Nigam Limited (RVNL), Indian Railway Finance Corporation (IRFC), BEML, Ircon International, RITES, and Container Corporation of India (CONCOR) which were up between 2.5% and 5%. Vaishnaw who has headed the ministry since July 7 during Modi 2.0 has been trusted with the job once again by Prime Minister Narendra Modi. The decision on portfolio allotment came on Monday. Railway stocks have had a dream run over the last year and almost all the aforementioned stocks have delivered multibagger returns. State...