Two PSU railway stocks, RailTel and Rail Vikas Nigam are in the limelight today. RailTel rose over 17.5% to hit an intraday high at Rs.153.90, going close to its 20% UC of the day at Rs.156.75. Rail Vikas went up 10% to hit an intraday high at Rs.32.75.
The two stocks are up on a report put out by Indian Express that the Govt is looking at making several structural changes in both the companies – a merger of Rail Vikas with Ircon and RailTel with IRCTC.
This is unconfirmed news and based on conjecture from a report put out by Sanjeev Sanyal, the principal economic adviser to the Finance Ministry, Indian Express.