Shares in rail infrastructure stocks surged on Thursday after a report quoting sources said the government has initiated steps to relax foreign direct investment in high-speed train systems and dedicated freight lines.
Shares in Titagarh Wagons surged over 4 per cent to Rs 327 while Kalindee Rail Nirman gained over 5 per cent to Rs 124. Texmaco shares also surged over 3 per cent today.
A Press Trust of India report, quoting sources, said the Commerce and Industry Ministry has circulated a draft Cabinet note on railway FDI for inter-ministerial consultation.
Besides high-speed train systems and dedicated freight lines, there is also a proposal to allow foreign investment in sub-urban corridors and freight lines connecting ports, mines and power installations, the report said. However, existing passenger and freight network operations will not be opened to foreign investors, the report added.
At present, there is a complete ban on any kind of FDI in the railways sector except mass rapid transport systems. (With Agency Inputs)
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