Weekly Newsletter

08 September 2023

Weekly Newsletter

08 September 2023

Signal: Indian Railways pledges $3.9bn as first female CEO takes charge

Jaya Varma Sinha’s appointment as Chairman and CEO has seen Indian Railway Finance Corporation share prices rise dramatically.

Alex Blair September 07 2023

Following the Indian cabinet’s approval of seven railway projects totalling $3.9bn (Rs 325bn), government-owned Indian Railways has appointed its first-ever female Chairman and CEO and seen share prices increase by 38% in the last week.

Former Railway Board member Jaya Varma Sinha took over on 1 September, when Indian Financial Railway Corporation share prices were listed at INR55.75 ($0.67). As of 6 September, share prices reached INR68.75, according to the Indian Economic Times.

Sinha has been placed firmly under the spotlight since the Odisha train collision in June. Widespread outcry ensued after the country’s deadliest rail disaster in two decades, which saw more than 290 people killed and three Indian Railways employees charged.

It was Sinha who briefed Prime Minister Narendra Modi – and received praise for how she handled the Indian press and public in the aftermath of the collision.

News sentiment towards Indian Railways and its subsidiaries remains overarchingly positive, GlobalData analysis reveals, despite the backlash and investigation into the Odisha tragedy by the Central Bureau of Investigation (CBI).

https://twitter.com/RailMinIndia/status/1697483937625579946?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1697483937625579946%7Ctwgr%5E3c2844043142bc92b4dab8c951e1ef22030fa35d%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bqprime.com%2Ftrending%2Fwho-is-jaya-verma-sinha-know-the-first-woman-ceo-of-railway-board-bqc

Sinha’s appointment will see her oversee a significant expansion of Indian Railways. It is the second-largest network managed by a single entity worldwide, but it has never had a female CEO in its 169 years of service.

As part of the government’s flagship Amrit Bharat Stations Scheme (ABSS), the Modi-led Cabinet Committee on Economic Affairs last month announced roughly INR325bn of investment into seven railway projects across 35 districts around the country. These additional tracks aim to reduce congestion and boost transportation of key commodities.

The safety of Indian railways has statistically improved in recent years, correlating with renewed investment from Modi’s government. India’s Ministry of Railways’ 2023 budget set out that: “In 2023-2024, Indian Railways’ capital expenditure is targeted at INR2,600bn ($727.12bn), an increase of 6% over the previous year.”

Amid Modi’s latest funding promises and Sinha’s appointment as CEO, the Indian Railway Finance Corporation share prices have continuously risen and look set to continue.

Our signals coverage is powered by GlobalData’s Thematic Engine, which tags millions of data items across six alternative datasets — patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed.

Cybercriminals are attracted to a wealth of personal data making the travel sector a prime target

The travel and tourism sector is becoming increasingly digitalized, embracing emerging technologies such as AI, IoT, and cloud. As the digital ecosystems of companies grow, they become more vulnerable to cyberattacks. The industry is fragmented, thereby increasing the number of potential entry points for attackers to exploit. Collaboration is vital, and companies must ensure that all their vendors also have suitable measures in place. Per GlobalData estimates, cybersecurity revenues in the T&T sector are forecasted to reach $3.5 billion by 2026.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close