Mumbai: Shares of companies related to railways Thursday gained as much as 5 percent following reports that the Commerce and Industry ministry has started the exercise to relax foreign investment norms in the sector by permitting 100 percent FDI.
Kalindee Rail Nirman surged 4.98 percent, while Stone India rose by 4.91 percent and Kernex Microsystems India was up 1.32 percent on the BSE.
After defence, the Commerce and Industry ministry has started the exercise to relax foreign investment norms in the railways sector by permitting 100 percent FDI in high-speed train systems and dedicated freight lines.
The Department of Industrial Policy and Promotion (DIPP) under the Commerce and Industry Ministry has circulated a draft cabinet note on the matter for inter-ministerial consultation, sources told PTI yesterday.
At present, there is a complete ban on any kind of FDI in the railways sector except mass rapid transport systems.
