Shares of railway companies are up in the green on Monday after the cabinet announced metro projects in Bengaluru, Pune and Thane. 

What Happened: On Friday, Union Cabinet announced metro projects in Bengaluru, Pune and Thane. These projects include Phase 3 of the Bengaluru Metro, Thane Integral Ring Road and Pune Metro Phase 1 extension. The total cost of these three projects is expected to be around ₹30,000 crore.

In Bengaluru Metro phase will cover 2 corridors from JP Nagar 4th Phase to Kempapura through the Outer Ring Road West and from Hosahalli to Kadabagere along Magadi Road. This phase will cover 31 stations over a length of 44.65 km with a cost of ₹15,611 crore. 

See Also: NMDC Shares Inch Up As Brokerages Remain Upbeat After Q1 Results

The Thane project will cover 29 km and will have 22 stations. The cost of the project will be ₹12,200 crore. 

The Pune metro phase 1 will be expanded from Swargate to Katraj with a cost of ₹2,954.53 crore. 

All the projects are expected to be completed by 2029. 

Price Action: Shares of railway companies that supply rolling stock to the metro and build related infrastructure are up. 

Shares of Rites were up 2.37% to ₹671.

Shares of Titagarh Rail Systems were up 2.41% to ₹1,462.40. 

Shares of RVNL were up 1.84% to ₹581.15. 

Shares of IRCON were up 1.16% to ₹269.90.

Read Next: This Small Cap Reliance Stock Has Hit Upper Circuit For 22 Days Straight, Up Over 160%