Shares of nine companies whose fortunes are linked to orders from Indian railways rose by 0.48% to 5.04% at 12:00 IST on BSE after the Ministry of Railways decided to increase the minimum chargeable fare from Rs 5 to Rs 10 for non suburban services.
Ministry of Railways announced after market hours yesterday, 17 November 2015.
Meanwhile, the BSE Sensex was down 43.22 points, or 0.17% to 25,821.25.
Among rail stocks, Hind Rectifiers (up 2.36%), NELCO (up 3.73%), Kalindee Rail Nirman (up 5.04%), Titagarh Wagons (up 4.18%), Stone India (up 1.99%), Texmaco Rail & Engineering (up 4.08%), Kernex Microsystems (up 2.8%), BEML (up 0.48%) and Zicom Electronic Security Systems (up 0.92%) gained.
The Railways have decided to increase the minimum chargeable fare from Rs 5 to Rs 10 to meet the objective of controlling the rush on platforms for the convenience of the passengers. It will be effective from 20 November 2015 to make it at par with the platform ticket charges. To begin with this will be applicable only to second class non-suburban services only. It is hoped that this step will bring down the rush on the platforms to manageable levels.
Ministry of Railways had in the last Budget revised the price of platform ticket from Rs 5 to Rs10 with a view to control the rush on platforms. However, the objective could not be realised as passengers started purchasing the minimum single journey second class tickets priced at Rs 5 in lieu of the platform ticket.
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