Railway stocks saw increased attention on Monday after the Union Cabinet approved metro projects in Bangalore, Thane, and Pune, totaling over ₹30,000 crore. The shares of BEML, Titagarh Rail Systems, RVNL, Texmaco Rail & Engineering, and IRFC all rose in early trading.
The Cabinet, led by PM Narendra Modi, gave the green light for Phase 3 of the Bangalore Metro Rail Project. This phase will feature two elevated corridors stretching 44.65 km with 31 stations. Corridor-1 will connect JP Nagar’s 4th phase to Kempapura, and Corridor-2 will link Hosahalli to Kadabagere. The project is estimated to cost ₹15,611 crore and is expected to be finished by 2029.
Additionally, the Cabinet approved the Thane Integral Ring Metro Rail Project in Maharashtra. This 29-km corridor will circle Thane city with 22 stations, bordered by the Ulhas River and Sanjay Gandhi National Park. The estimated cost is ₹12,200.10 crore, with funding from both the central and Maharashtra governments and additional support from bilateral agencies.
In Pune, the Cabinet also approved an extension of the Swargate to Katraj underground line, part of the existing PCMC-Swargate metro line. This extension, costing ₹2,954.53 crore, is scheduled for completion by February 2029. The cost will be shared equally between the central and Maharashtra governments, with further contributions from bilateral agencies.
Rail stocks have performed well this year. RVNL shares have surged over 218%, IRFC has risen more than 80%, and other stocks like Titagarh Rail Systems and BEML have also seen notable gains.
