Both projects have been awarded by the Gujarat Metro Rail Corporation to a consortium of Siemens and RVNL.

RVNL informed that the company said it letter of acceptance from Southern Railway for provision of automatic block signalling in the Taduku-Renigunta section in the Southern Railway. The project cost is worth Rs 38.97 crore.

Navin Fluorine International was the biggest gainer in the futures & options segment, rising 5.56 percent to Rs 4,123.65, the highest closing level since December 26, 2022 and formed robust bullish candle on the daily charts with significantly higher volumes. It has decisively broken consolidation range seen in last one week.

Rail Vikas Nigam has been asked to build an elevated viaduct and nine elevated metro stations

Max Financial Services was also in action, rising nearly 4 percent to Rs 710 and there was formation of large bullish candle on the daily charts with above average volumes, with making higher high for third straight session. In fact, Tuesday's breakout was after couple of weeks of consolidation. The stock has seen a breakout of long downward sloping resistance trend line adjoining September 20, and December 19, 2022.

This is a strategic project of the government and the cost is pegged at Rs 1,544.60 crore, said the company in a press release

“Railway stocks are generally a tactical play. This means investors are buying these stocks as a short-term investment bet based on the anticipation of some announcement from the government,” said Awanish Chandra, Head of Equities, SMIFS.

Under the National Rail Plan, Indian Railways is planning to add four new bullet train corridors that will connect nine more cities to the high-speed rail network. The corridors to be proposed include a 618 km-long corridor between Hyderabad and Bangalore, an 855 km-long route between Nagpur and Varanasi, an 850 km-long way between Patna and Guwahati and a 190 km-long corridor connecting Amritsar, Pathankot and Jammu.

These penny stocks are helping investors get stable returns in a volatile market.