The Cabinet Committee on Economic Affairs on Wednesday approved construction of six rail lines and a railway bridge at an estimated cost of Rs. 10,700 crore to cater to increased passenger and freight needs.

The CCEA, chaired by Prime Minister Narendra Modi, gave its nod for the construction in a 908 km stretch, which will cost over Rs. 10,700 crore. Most part of the expenditure will be met through extra budgetary resources (institutional financing).

The expansion includes doubling of the Hubli-Chickajur line, the Wardha (Sewagram)-Ballarshah third line, doubling of the Ramna-Singrauli line, third line between Anuppur and Katni, doubling of the Katni-Singrauli line and an additional bridge, and doubling of the Rampur Dumra-Tal-Rajendrapul line.

“This is an area where citizens are keen that through policies, processes and systemic changes the Railways must address it otherwise the bribes taken by TTEs translate into revenue loss for the organization.”

Facing a decline in loadings demand, railways is mulling various options including entering into untapped areas like auto and FMCG to increase freight revenue.

“The need of the hour is to enter new areas to expand the freight operation in a significant way,” said a senior Railway Ministry official, adding, “The aim is to enter into untapped areas.”

STOCKS TO WATCH DURING THE RAILWAY BUDGET SESSION

TITAGARH WAGONS: THE STOCK IS LOOKING BULLISH FOR THE UPSIDE TARGETS OF 150-160 FOR THE SHORT TERM WITH A STOPLOSS OF 120 FROM THE CURRENT PRICE NEAR 135.

TEXRAIL: THIS STOCK TOO IS BULLISH AND CAN HAVE THE UPSIDE TARGETS OF EVEN 200 IN MANAGES TO CROSS 150 LEVEL AND SUSTAIN.DOWNSIDE SUPPORT FOR THE STOCK IS AT 125 NOW.

LT: SAME LIKE THE PREVIOUS STOCK A CLOSE ABOVE 1160 WILL GIVE POSITIVE MOVES FOR LT AND THE UPSIDE TARGETS FOR NEAR TERM IS AROUND 1275-1300 FOR THE STOCK.DOWNSIDE SUPPORT AT 1050.

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