Business
Budget 2026: 7 high speed corridor plan lifts Jupiter Wagons, IRFC and other railway stocks up to 3%
The BSE and National Stock Exchange held a live trading session on Sunday to coincide with the presentation of the Union Budget 2026–27, drawing attention to railway linked counters, particularly technology and wagon manufacturing stocks. Quadrant Future Tek led the gains, rising 3%. Jupiter Wagons followed with a 1.87% increase. Railway PSUs IRFC and RITES also traded higher, gaining 1.20% and 1.19%, respectively, while RailTel was up 1.08% during the session.
During her Budget speech, Sitharaman announced plans to develop seven high speed rail corridors to act as key growth connectors between major cities, aimed at improving inter city connectivity, reducing travel time and supporting economic activity along key urban and industrial clusters.
The proposed corridors include Mumbai–Pune, Hyderabad–Pune, Hyderabad–Bengaluru, Chennai–Bengaluru, Delhi–Varanasi, Varanasi–Siliguri and others. The government also outlined the plan as part of efforts “to promote environmentally sustainable passenger travel” through high speed rail links connecting major cities.
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Market participants said the Budget’s emphasis on high speed corridors sharpened expectations of stronger order inflows across rolling stock, signalling, rail financing and project execution segments over the medium term.
The proposal announced by Finance Minister Nirmala Sitharaman to develop seven high speed rail corridors represents a structural push towards decongested, high capacity rail infrastructure, said Divyam Mour, Research Analyst, SAMCO Securities, adding that dedicated high speed corridors are likely to accelerate project execution, improve asset utilisation, and unlock large EPC order inflows across track laying, electrification, signalling and station development.”This is materially positive for railway infrastructure players such as Rail Vikas Nigam Limited and IRCON International Limited, while electrification and civil contractors like KEC International Limited, NCC Limited and Ashoka Buildcon Limited should see sustained order momentum. Financing support from Indian Railway Finance Corporation further strengthens funding visibility for long term rail expansion,” said Mour.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Iranian attacks on Qatar’s Ras Laffan LNG hub have caused natural gas prices to surge, though Europe’s impact is expected to be less severe due to reduced reliance on Qatari LNG. While wholesale prices have jumped, they remain significantly lower than during the Ukraine conflict, with storage levels below average for the upcoming winter.
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Hyundai Motor Company is recalling more than 61,000 Palisade SUVs in the U.S. after an issue with powered seats was linked to the death of a child, federal regulators said.
The recall affects model year 2026 Palisade and Palisade Hybrid vehicles equipped with the Limited and Calligraphy trim packages, the automaker said in a recall report filed with the National Highway Traffic Safety Administration.
“The 2nd and 3rd row power seat assemblies equipped in the subject vehicles may not respond to contact with an occupant or object as intended during activation of certain powered seat functions, including the automatic power-folding (stow) function and the ‘one-touch’ tilt-and-slide (walk-in) feature of the 2nd row power seat assembly,” the report said.
HYUNDAI STOPS SALES OF CERTAIN SUVS AFTER 2-YEAR-OLD GIRL’S DEATH
The 2026 Hyundai Palisade SUV during the New York International Auto Show Press Preview in New York City April 16, 2025. (Shannon Stapleton/Reuters)
The announcement comes after a young child died in an incident involving a Palisade that is still under investigation, according to the automaker.
Reuters reported the victim was a 2-year-old girl from Ohio who was killed March 7.
“Hyundai is aware of a tragic incident involving a Palisade,” the company said in a press release March 13. “While Hyundai does not yet have the full details and the incident is still under investigation, a young child lost her life. Hyundai extends its deepest sympathies to her family.”
TOYOTA RECALLS 550,000 VEHICLES OVER SEAT DEFECT
A view from the interior of a Hyundai Palisade showing the gray leather upholstery of the second-row power-folding seats. (Hyundai USA)
The South Korean automaker said last week it is pausing sales of the Palisades with the Limited and Calligraphy trim packages following the incident.
Hyundai said in the recall notice it received four reports of minor injuries related to second-row seat operation.
Hyundai issued a stop-sale and plans for a recall for 2026 Palisade Limited and Calligraphy models March 13, 2026. (Hyundai USA)
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A recall remedy is under development. Until it becomes available, the automaker warned owners of the affected vehicles to use caution when operating the second- and third-row power-folding seat functions.
Hyundai also said owners should “avoid contacting the ‘one-touch’ tilt-and-slide button located on the 2nd row setback … during entry and exit of the 3rd row and take measures to prevent inadvertent activation of this feature.”
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FOX Business’ Ashley Carnahan contributed to this report.
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Oil and gas prices surged Thursday after some of the world’s most critical energy facilities were hit in a fresh wave of attacks in the Middle East, stoking fears of deeper and more prolonged disruptions to global supplies.
In mid-morning European trade, Brent crude climbed 10% to $118.50 a barrel and was up 65% on the month. West Texas Intermediate, the U.S. oil gauge, rose 2.9% to $95.08 a barrel. Natural-gas prices spiked 26%, with the front-month Dutch TTF contract—the European benchmark—trading at 68.70 euros a megawatt-hour after briefly touching 70 euros at the open.
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Asian stocks fell sharply Thursday as investors digested a series of attacks on energy infrastructure in the Middle East and the weakness on Wall Street in the previous session.
South Korea’s KOSPI Composite index declined 2.7% after its 5% jump in the previous session. The red-hot stock market is up 37% so far in 2026 but has been very volatile since the Iran war began.
China’s Shanghai Composite slipped 1.4%, while Japan’s Nikkei index closed 3.4% down, after jumping 2.9% in the previous session.
SAN FRANCISCO—During the tech boom of the 2010s, coding teams here spent months building apps that changed the way we live.
Now, that’s just a Saturday night for an 11-year-old.
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