- IRFC IPO kicks off: Brokerages say subscribe with long-term gainsMost brokerages say the IRFC IPO is attractively priced and can be a good bet for conservative long-term investors, given the company's low-risk profile and consistent earnings visibility.
- How Indian Railways is taking on the Atmanirbhar Bharat challenge, in 5 pointsDMRC took a major step towards the development of an indigenously-built signalling technology for metro trains in line with the govt's flagship 'Make in India' initiative.
- Working to improve ease of doing business with the Indian Railways: Piyush GoyalLaunching the Indian Railways’ freight business development portal, Goyal, who is the minister for railways, said that the government was looking to make the National transporter a customer centric organisation which runs professionally to serve its customers.
- Indian Railways to run demand-based passenger trainsFurther, it plans to achieve freight movement of 2024 million tonne by 2024 as part of its Vision 2024 as against the current 1210 million tonne in 2019, which is 27% of the total national freight of 4700 million tonne last year. The IR has estimated total national freight movement till 2026 at 6400 million tonne.
- IRFC IPO subscribed 1.22 times on Day 2By 5:00 pm on Tuesday, the issue received bids for 152.64 crore shares, which was 122.35 per cent of the issue size of 124.75 crore shares. The issue was subscribed 65 per cent on the first day.
- Indian Railways awards regular supplier status to JSPL for 880 grade RailsRailway Board has accepted the field performance test report of RDSO and considered UIC 60 kg, 880 Grade prime (Class- A) rails are suitable for use in Indian Railways.
- Two IPOs to hit market this week, eye over Rs 5,800 crThe three-day initial share-sale of IRFC would be open for public subscription during January 18-20, while the IPO of Indigo Paints would open on January 20 and conclude on January 22.
- IRFC IPO: Grey market premium tepid, but brokers say issue attractiveDealers say the stock was commanding a grey market premium of Rs 1.60 over the upper limit of the price band of Rs 25-26 a piece on Thursday afternoon, compared with Rs 1.20 earlier in the day.
- IRFC's over Rs 4,600-crore initial public offer to open on January 18The government has set a target of raising Rs 2.1 lakh crore through divestment in current fiscal year.
- Indian Railways seeks bids for making bungalows in Delhi’s Civil Lines The RLDA has invited bids for grant of lease for the redevelopment of 2.18 hectares of Boulevard Road Railway Colony for 99 years, with a reserve price of ₹393 crore.
- Indian Railways' Freight Loading in November Grows 9% Year-on-YearThe loading this November included 48.48 million tonnes of coal, 13.77 million tonnes of iron ore, 5.1 million tonnes of foodgrains, 5.41 million tonnes of fertilizers and 6.62 million tonnes of cement (excluding clinker).
- Hyderabad co bags Vande Bharat train sets tenderThe Indian Railways awarded the Vande Bharat-type train sets tender to Hyderabad-based Medha Servo Drives for Rs 2,211 crore on Friday. The contract involves the designing and manufacturing of propulsion, control and other equipment required for making 44 rakes.
- Stove Kraft IPO to open on Jan 25; price band fixed at Rs 384-385 a shareThis would be the fourth company to launch an IPO in this year, after Indian Railway Finance Corporation which concluded on Wednesday, while Indigo Paints and Home First Finance Company are currently open for public subscription.
- Govt to get Rs 1,544 cr from IRFC IPOThe Rs 4,633 crore IPO of Indian Railway Finance Corporation (IRFC) was subscribed 3.49 times on the final day of bidding on Wednesday.
- IRFC IPO subscribed 3.46 times on final day of bidding processRetail portion was subscribed 3.6 times while the quota reserved for qualified institutional bidders (QIBs) got subscribed 3.8 times. However the high networth individual segment was subscribed only 2.67 times.
- IRFC IPO subscribed 3.49 times on final dayIRFC has already raised Rs 1,398.63 crore from 31 anchor investors. The issue will close for subscription on January 20.
- Railways renames Howrah-Kalka Mail as 'Netaji Express' ahead of Netaji Subhash Chandra Bose's birth anniversaryDays before the nation celebrates the 125th birth anniversary of Netaji Subhas Chandra Bose, the Indian Railways on Tuesday renamed the Howrah-Kalka Mail as the ‘Netaji Express’. The great freedom fighter was born on January 23, 1897 and floated Azad Hind Fauj to fight for India's independence. Netaji’s prakram had put India on the express route of freedom and development,” the ministry of railways said.Railways renames Howrah-Kalka Mail as 'Netaji Express' ahead of Netaji Subhash Chandra Bose's birth anniversary
- IRFC IPO sees firm response; retail portion fully subscribed on Day 1By 5:00 pm, the issue received bids for 808.9 million shares, which was 64.8 per cent of the total issue size of 1,247.5 million shares. Ahead of the IPO, IRFC said on Saturday that it had raised Rs 1,398.63 crore from 31 anchor investors. The issue will close for subscription on January 20.
- IRCTC to resume cooked food supply to passengers in trains soon: Eastern RailwayWith the resumption of several long-distance and special trains, there was a growing demand to resume the services for supplying "hot, healthy and hygienic food to the passengers in the trains by nominated vendors of IRCTC", an official said.
- Senior Railways officer, 2 others arrested by CBI for taking Rs 1-crore bribeThe Central Bureau of Investigation (CBI) on Sunday arrested a senior Indian Railways Engineering Service (IRES) official along with two others for allegedly accepting a bribe of Rs 1 crore. The probe agency also carried out searches at 20 locations across the country, including Delhi, Assam, Uttarakhand, and two other states, news agency PTI reported.Senior Railways officer, 2 others arrested by CBI for taking Rs 1-crore bribe
- IRFC raises Rs 1,390 crore from 31 anchor investors ahead of IPOFor the first time, the state owned company has made provisions for allotment to anchor investors to help garner more value for the IPO.
- SAIL OFS subscribed over 5 times; govt to garner Rs 2,664 cr from stake saleThe shares sought were 522.89 per cent of the overall issue size on the final day of bidding, as per provisional data available on bourses.
- Indian Railways set to organise mega recruitment drive for filling 1.4 lakh vacanciesAccording to the official release, the first phase of the exam will commence from December 15 till December 18, 2020, for isolated and ministerial categories. This will be followed by NTPC categories from December 28 to tentatively till March 2021 and the third recruitment for Level-1 from tentatively April 2020 onwards till June end, 2021.
- No extra fare being charged, festival special trains still running: RailwaysIt further said that the festival special trains that started in October last year are still running as part of longstanding practice of catering to extra rush during such a period.
- Should you subscribe to IRFC IPO?Given the low-risk business model, cheaper valuation, and the government’s focus on expanding railway infrastructure in the country, long-term investors may subscribe to the IPO.
- Indian Railways' freight loading in October up 15% compared to last yearTo attract new business and incentivise other existing clients, the Railway ministry has held meetings with top leadership of iron and steel, cement, power, coal, automobiles and logistics service providers in the past weeks.
- Indian Railways' Freight loading till October inches closer to FY20 level in the same periodLoading between April to October stands at 641.94 million tonne, which is over 94% of last year’s loading, according to the latest data released by the ministry of railways. Loading between April-October 2019 was 680.78 million tonne.
- Trust group enters MF biz, to make debut via banking fundInvestors can expect 5% or higher tax free return in a time horizon of three and a half years. This is billed as an opportunity to earn higher interest income when traditional domestic rates are at record lows.
- PM Modi launches 306-km stretch of Western DFC, says freight corridor project will lead to rapid developmentPM Narendra Modi on Thursday dedicated the 306-km New Rewari-New Madar section of the Western Dedicated Freight Corridor (WDFC) to the nation. The Prime Minister also flagged-off the world's first electrified double-stack long-haul 1.5-km-long container train from New Ateli-New Kishangarh, via video link. Addressing the event he said the dedicated freight corridor project is being seen as a game changer for India in the 21st century and will lead to rapid development of the country. Watch highlights from PM Modi's remarks. (Text: PTI)PM Modi launches 306-km stretch of Western DFC, says freight corridor project will lead to rapid development
- Inside Lifeline Express, world's first Hospital TrainHaving facilities like that of a hospital, Lifeline Express is equipped with 2 modern operation theatres, 5 operating tables, sterilizing room, patient ward, a room for medical supplies along with other medical facilities.
- Here's the list of trains that got cancelled or diverted by Indian Railways due to farmers agitationThe 09613 Ajmer-Amritsar express special train journey commencing on December 2 will remain cancelled. Consequently, the 09612 Amritsar - Ajmer special train commencing on December 3 will also remain cancelled.
- HAL moots defence financing corporation for acquisition of weapon systemsProposed to be set up in line with the Indian Railways Finance Corporation, the new body could raise funds from the capital market and provide more stability to defence purchases that are often delayed due to the unavailability of capital.
- Indian Railways plan to serve tea in Kulhad at every stations across country: Piyush GoyalIn an attempt to make India plastic-free, Indian Railways is now planning to serve tea in Kulhad (earthen cups) at every railway stations across the country, informed Railway Minister Piyush Goyal at an event in Rajasthan’s Alwar on November 29. He said, “There're nearly 400 railway stations serving tea in Kulhad (earthen cups). We're making efforts to implement the same across the country as Railways' contribution in making India plastic-free. It'll also generate employment.”Indian Railways plan to serve tea in Kulhad at every stations across country: Piyush Goyal
- Reports of hike in fares during festival season misleading, clarifies Indian RailwaysThe fares of these trains will be similar to those applicable for special trains, which means 'special charges' will be levied making the tickets costlier by 10-30 per cent as compared to the fares of mail/express trains, depending on the class of travel.
- JSPL produced rails for high-speed corridors approved by Indian RailwaysJindal Steel and Power Limited (JSPL) is the first and only Indian manufacturer to develop 60E1 1175 Heat Treated(HT) Rails suitable for High speed and High Axle Load applications.
- Indian Railways to run 196 pairs of festival special trains from tomorrowThese trains will have a fare that's more than the mail/express trains and will be on par with special trains. The Ministry of Railways had given its approval to Zonal Railways' proposal for the operation of 196 pairs of Festival Special trains.
- IRCTC's upgraded e-ticketing website launched"The Railways is committed to serving the nation, and constantly working to augment its services to further improve the rail travel experience. This upgraded e-ticketing platform for booking of online Railway tickets, will enhance passenger convenience," Piyush Goyal said.
- Indian Railways to allow private companies to develop goods-sheds at Railway StationsPrivate companies will be entitled to a share in the terminal charges and terminal access charges for all inward and outward traffic dealt at the goods-shed for a period of five years from the date of completion of work, the policy document, a copy of which has been reviewed by ET, said.
- PM Modi says govt will continue to work to strengthen farmers as he flags off 100th 'Kisan Rail'Prime Minister Narendra Modi on Monday asserted that the government's policies are clear and intentions transparent in reforming the agriculture sector and it will continue to work to strengthen farmers and the sector with full force and dedication. The Prime Minister was speaking after flagging off the 100th 'Kisan Rail' from Sangola in Maharashtra to Shalimar in West Bengal via video link. Watch highlights from PM Modi's remarks. (Text: PTI)PM Modi says govt will continue to work to strengthen farmers as he flags off 100th 'Kisan Rail'
- Palace On Wheels woos desi tourists with 30% fare discount“We have created two itineraries keeping in mind the interests of the domestic tourists. We have also decided to offer 30% discount as compared to the previous rates. With a minimum booking of 27 guests for a trip, we can start the journey,” said Alok Gupta, chairman and managing director of RTDC.
- Migrants to key goods, how railways met lockdown challengeBarely days after the government declared complete lockdown in March suspending operation of air, road and rail travel due to the pandemic, Indian Railways got a unique task to transport a batch of swab samples from Delhi to Indore for testing at a lab within a set time-line.
- 2020: A glimpse of life without trains as Railways battled odds to keep India's lifeline runningAs the coronavirus lockdown was announced on March 24, the Railways for the first time in its 167-year-old history shut down all its services. It was on May 1 that the wheels of trains started chugging again. This time, to ferry migrant workers home.
- Indian railway stations revamp to bring in Rs 50,000 cr investmentThe station redevelopment plan of Indian Railways will release about 20 million sq ft of real estate, attracting investment of Rs 50,000 crore, said senior railways officials. Of the 123 stations on the list for redevelopment, railways aims to issue tenders for 50 by March 2021.
- National Railway Plan to boost operating ratio: Railway Board Chairman VK Yadav“By 2024, we should see a significant improvement in our operating ratio,” Yadav said in an interview. “We are trying to improve our operating expenses by introducing technology and upgrading our infrastructure.”
- Chinese company disqualified for Vande Bharat trainsets projectNow there are only two valid bids of BHEL and Medha Servo Drives. Medha, which had got the contract for the manufacturing for the first two such trains, has quoted the lowest bid, sources said.
- Taller than the Eiffel Tower, here are 4 things about Anji, India's first arch rail bridgeAnji is part of the ambitious Udhampur-Srinagar-Baramulla rail project, considered one of the most difficult project due to the rocky mountainous terrain and arduous weather conditions.
- Focus on growth of parcel business, production of LHB parcel vans, railway minister tells officialsGoyal reviewed the parcel business of the Indian Railways on Tuesday, the railway ministry said in a statement. Goyal also directed that adequate steps must be taken to facilitate movement of traffic from North-eastern region and hill states, besides making efforts to attract export traffic going towards ports.
- Jindal receives regular rail supplier status from Indian RailwaysResearch Designs & Standards Organisation (RDSO), which works under the ambit of the Railway Board, has approved field performance of the UIC 60 kg, 880 Grade prime (Class-A) rails made by JSPL at its Raigarh Plant.
- Target to capture 45 pc of freight transportation by 2030: Railway Board chairmanThe Railway Board chairman said the national transporter will complete 20 additional coal connectivity projects and by December 2023, conclude 146 railway electrification projects.
- Indian Railways plans ₹2 lakh crore capital expenditure a year till FY24The infrastructure upgradation plan includes doubling of 11,000 kilometre of track, tripling and quadrupling of around 3,000 km route network, 51 projects related to coal connectivity and 10 projects related to port connectivity, among others.
- Indian Railways extends pact with IIT-Kanpur to facilitate research on railway modernisationThe memorandum of understanding (MoU) will facilitate research in the core areas of electrical locomotive, locomotive control and communication systems, traction installation and driver interface systems, among others, through the Centre for Railway Research (CRR) at IIT-Kanpur.
- India, Bangladesh set to re-open Haldibari-Chilahati rail route after 55 yearsThe rail route between Haldibari in West Bengal and Chilahati in neighbouring Bangladesh is all set to re-open after a gap of 55 years on December 17 as prime ministers of the two countries will virtually inaugurate the same. The railway line has been defunct after rail links between India and then East Pakistan snapped in 1965. ET's Nishtha Saluja brings you all the details in this video. (Text: PTI)India, Bangladesh set to re-open Haldibari-Chilahati rail route after 55 years
- IRCTC on road to recovery, says chairmanMP Mall, Chairman, IRCTC says seeing confidence return on back of lower Covid-19 cases addition.IRCTC on road to recovery, says chairman
- Udhampur-Srinagar-Baramulla rail line to be completed by 2022: Northern Railways"We are expecting to complete Udhampur-Srinagar-Baramulla railway line (272-km) by December 2022. Work is going on in full swing at the 111-km section. Out of this 111-km section, 97-km-long line will be laid in a tunnel," he said.
- Punjab farm protests: Indian Railways incur losses to the tune of Rs 1,200 croreThe farmers agitation in Punjab began around September 24 when they started blocking railway tracks and stations demanding the repeal of new three agriculture related bills. Farmers in Punjab have expressed apprehension that the Centre's farm reforms would pave a way for the dismantling of the minimum support price system, leaving them at the "mercy" of big corporates.
- Policy on greater private sector engagement in railways coming soon: Piyush GoyalThe railway ministry kickstarted its plan to allow private companies to run 151 trains on 109 routes by inviting bids in July this year. Besides, the National transporter is seeking private investment in station redevelopment, and good sheds as well.
- GeM exploring ways to bring works on portal; seeks stakeholders' views on approach paper"Big contractors which provide these works are not there on the GeM portal. So we have come out with an approach paper for stakeholder consultations to explore ways of bringing in these works on the portal," GeM CEO Talleen Kumar said .
- IRCTC OFS closes; govt to mop up Rs 4,374 croreThe promoter had proposed to sell up to 2,40,00,000 equity shares of IRCTC, representing up to 15% stake.
- Indian Railways to operate 20 pairs of clone trains from September 21The clone trains will be primarily 3 AC trains and run ahead of the already operational special passenger trains. These trains, which are set to be operated for the first time by the Indian Railways in the past, will have speed higher than existing special trains.
- IRCTC offer-for-sale: Issue subscribed nearly 2 times on first dayRetail investors will get chance to bid for IRCTC offer-for-sale (OFS) on Friday, the last day for the issue, department of investment and public asset management (DIPAM) secretary Tuhin Kanta Pandey said.
- Strong Q2 helps Railways post positive revenue in passenger segment for first time this FYIn the first quarter, for the first time in its 167-year-long history, the Indian Railways refunded a higher amount of money than what it earned from ticket bookings, registering a negative passenger segment revenue of Rs 1,066 crore, the query filed under the Right to Information (RTI) Act has found.
- IRCTC plunges 13% as two-day OFS kicks offFollowing the development, the stock fell 13.16 per cent to hit a low of Rs 1,405 on BSE. The stock, however, recovered some lot ground later.
- Stocks in the news: TCS, IRCTC, Maruti Suzuki, Snowman Logistics and RBL BankMaruti Suzuki India said it will increase prices of its vehicles from January to offset the adverse impact of rising input costs.
- Govt to sell 20% stake in IRCTC via OFS, to raise Rs 4,374 croreThrough the OFS, the government has proposed to sell 2.4 crore shares, constituting 15% paid-up share capital of the company, with an option to sell an additional 80 lakh shares or 5% stake in case of demand.
- Public grievances against central government departments soar to 2.1 million this yearAbout 478,139 complaints were received against the Department of Financial Services, pertaining to banking services, while the telecom department was the second among 88 central government departments, with 277,869 complaints, and the railways (Railway Board) received about 203,115 complaints.
- More support pours in, railway union AIRF to observe Bharat BandhAfter five rounds of talks between the Centre and the farmer unions failed to end the impasse, the two sides are again set to meet on December 9, a day after the countrywide strike.
- Indian Railways to run clone trains to clear long waiting lists"Wherever there is a demand, wherever the waiting list is long, we will run a clone train ahead of the actual train, so that passengers can travel," Railway Board chairman, Vinod Kumar Yadav, said.
- Indian Railways to operate around 400 special trains as India gears up for the festive seasonThe trains are to be operated as superfast services, running at an average speed of 55 kilometres per hour. A total of 196 pairs of trains will be operated during the said period, and are strictly festive specials, a railway ministry spokesperson said on Tuesday.
- Realty developers seek Indian Railways’ support for migrant workers’ returnWhile workers are returning, the number needs to improve to resume complete construction work and additional transport facilities can improve the inflow, the body said.
- In a first, IRFC IPO to have an anchor bookThe public offering will consist of a fresh issue of 118 crore equity shares and an offer for sale of 59.4 crore equity shares by the Government of India, according to the draft red herring prospectus (DRHP) filed with Sebi.
- Indian Railways set to operate more passenger trains, consultations with states onTrains, however, will be introduced in a staggered manner, as consultations with State governments are still on. The Indian Railways had halted passenger train operations in March this year as India went under a stringent lockdown amid the outbreak of Covid-19.
- Indian Economy recovery: November data add heft to revival, but experts want more govt spendingGST collections crossed ₹1 lakh crore for a second month, rising to ₹1.04 lakh crore from ₹1.03 lakh crore a year ago but down slightly from ₹1.05 lakh crore in October.
- Railways gets environmental clearance for Mumbai-Ahmedabad Bullet trainAddressing a virtual press conference here, Railway Board Chairman and CEO, V.K. Yadav said, "Requisite Wildlife, Forestry and Coastal Regulation Zone clearances in the state of Gujarat and Maharashtra have been obtained."
- HCC climbs 6% on bagging orders worth Rs 236 croreIn a filing to BSE, the company said that the orders are a part of the Bairabi-Sairang new broad gauge rail line, being implemented by the Indian Railways as a part of its plans to improve its network across the North-East India.
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