The stock market is happy with the return of Modi government for the third time in the exit polls, railway shares have also increased their speed. On Monday, all railway shares are running fast on the track of growth.
With the return of the Modi government to power, investors’ confidence has been strengthened by the fact that the government’s focus will remain on infrastructure, in which the government will pay special attention to railways, development work for the world’s fourth largest rail network will progress rapidly. The metro will be expanded, bullet trains will be started and many semi-high speed trains will also be put on track.
Railway shares gained momentum
After the exit polls gave a green signal for Modi’s return, the shares of railways were seen moving on time as soon as the market opened on Monday. IRCON International, Indian Railway Finance Corporation (IRFC) rose more than 6%. Shares of Rail Vikas Nigam and wagon manufacturing company Titagarh Rail Systems also saw a rise of more than 5%.
All the 12 exit polls have strongly stated that this time too, Prime Minister Narendra Modi will come to power in Delhi and that too with a full majority. Many polls have predicted that this time BJP will get more seats than the last time. The results of the Lok Sabha elections are to be announced on Tuesday, June 4.
PM Modi’s special focus on railways
PM Modi has spent a lot on railways during his two terms. He introduced several semi-high speed trains, including trains like Vande Bharat and Tejas Express. Metro network was expanded in cities and villages, many railway stations were also redeveloped. Prime Minister Narendra Modi inaugurated and laid the foundation stone of railway projects worth Rs 85,000 crore, including the launch of 10 new Vande Bharat trains in March this year.
During this, he flagged off 10 new Vande Bharat trains between Ahmedabad-Mumbai Central, Secunderabad-Visakhapatnam, Mysore-Dr MGR Central (Chennai), Patna-Lucknow, New Jalpaiguri-Patna, Puri-Visakhapatnam, Lucknow-Dehradun, Kalaburagi-Sir M Visvesvaraya Terminal Bengaluru, Ranchi-Varanasi and Khajuraho-Delhi (Nizamuddin).
Brokerages are also quite optimistic about Modi 3.0, they believe that the return of BJP is a very good sign for the economy and capital markets. The focus of the Modi government has been on infrastructure, he will take it further in his third term.
Bernstein has said in his brokerage report that the infrastructure projects which are currently underway will continue. Apart from this, the government will start many projects. Along with this, foreign investment in the country will also increase, the government will also promote the manufacturing sector.
