Railway minister Suresh Prabhu has stressed the need for massive capital investment, newer cost-effective technologies and private sector participation in Indian Railways so as to make the sector attractive for the investors. The ministry has decided to tap foreign pension funds as part of the resource mobilisation plan to bail out Railways from the deep financial trouble.“We will invite foreign pension funds to invest in Indian Railways. This could be in the form of loans at a cheaper rate. We have to bring in investments both from within and outside the country,” he said after inaugurating the 15th national seminar on “PPP and FDI in Indian Railways” in Hyderabad, organised by the Centre for Transportation Research and Management (CTRAM) and South Central Railway.
Maintaining its winning streak for the fourth straight day, the benchmark BSE Sensex rose by another 112 points in early trade today on sustained buying by funds and retail investors amid a firming Asian trend.
The 30-share index, which gained over 915 points in the previous three sessions, rose by 112.16 points, or 0.40 per cent, to 28,374.17.
All sectoral indices, led by metal and IT, were trading in the positive zone with gains up to 0.62 per cent.
Also, the National Stock Exchange index Nifty was trading higher by 38.35 points, or 0.45 per cent, to 8,589.05.
Brokers said persistent buying by funds and retail investors after the RBI’s rate cut last week coupled with encouraging Q3 earnings by some bluechip companies buoyed trading sentiments.
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