Railways likely to hike AC and non-AC train fares, Titagarh, Jupiter Wagons, other shares higher by up to 5%

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.