Rail stocks rallied on Wednesday after the Railway Minister Pawan Bansal announced hike in rail fares, which will be effective from Jan. 21, 2012.
Hind Rectifiers gained the most with rise of 4.57%, followed by Kernex Microsystems (4.38%), Kalindee Rail Nirman Engineers (3.76%), Texmaco Rail & Engineering (2.05%) and Titagarh Wagons (1.22%).
Sleeper class fare hiked by 6 paise per km while AC 1st and 3-Tier class fared raised to 10 paise per km.
While ordinary non-suburban fare raised to 3 paise per km. Ordinary suburban fare hiked to 2 paise per km.
There will be no hike in fares during Rail Budget next month, Bansal said.