Most of the railway shares saw renewed buying interest on June 24 amid volatility in the overall market, after news reports claimed Indian Railways is likely to increase passenger fares across various classes from July 1.
The Indian Railways is set to hike fares for non-AC Mail and Express trains by 1 paise per kilometre, and AC class fares by 2 paise per kilometre, CNBC Awaaz reported citing people familiar with the matter. The new tariff structure will not see a rise in the suburban fare and monthly season ticket. The fare for ordinary second-class seat will likely be hiked by half a paise for distance more than 500 km.
Moneycontrol couldn’t independently verify the report.
Titagarh Rail Systems shares surged nearly 6 percent to close at Rs 928 apiece, extending gains for a third consecutive session. The stock has now recovered nearly 42 percent from its 52-week low hit in March this year. Jupiter Wagons' shares gained over 2 percent to end the session at Rs 380 apiece, after falling nearly 27 percent in the past six months.
Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam Limited (RVNL) and Container Corporation of India (CONCOR) shares gained over a percent each, while those of Indian Railway Catering And Tourism Corporation (IRCTC) ended with marginal gains.
In the Union Budget 2025, Finance Minister Sitharaman had shared plans to develop top 50 tourist sites in partnership with state governments, in a boost for rail travel. Jammu and Kashmir too has started to see a rebound in travel trends, which had been hampered following the Pahalgam terror attack, thereby supporting the railway shares.
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