New Delhi, Jul 2 (PTI) Stocks related to railways sector jumped up to 13 per cent on Thursday after the railways formally kickstarted its plans to allow private entities to operate passenger trains on its network.

It invited request for qualifications (RFQ) for participation on 109 pairs of routes through 151 modern trains.

Also Read | OnePlus TV 2020 Series India Launch LIVE News Updates: Expected Prices, Variants, Features & Specifications.

Shares of Texmaco Rail & Engineering zoomed 13.24 per cent, Cimmco jumped 10 per cent, Rail Vikas Nigam 7.14 per cent, Titagarh Wagons 4.95 per cent and IRCTC 3.56 per cent, on the BSE.

This is the first initiative for private investment for running passenger trains on the Indian Railways network. It began last year with the Indian Railway Catering and Tourism Corporation (IRCTC) introducing the Lucknow-Delhi Tejas Express.

Also Read | Margot Robbie Birthday: 5 Best Moments of the Actress as Harley Quinn (Watch Videos).

Currently, the IRCTC operates three trains -- the Kashi Mahakal Express on the Varanasi-Indore route, the Lucknow-New Delhi Tejas and the Ahmedabad-Mumbai Tejas.

"The objective of this initiative is to introduce modern technology rolling stock with reduced maintenance, reduced transit time, boost job creation, provide enhanced safety, provide world-class travel experience to passengers," the Railways said.

The 109 origin-destination routes have been formed into 12 clusters across the Indian Railway network. Each train shall have a minimum of 16 coaches, it said.

The Railways also said majority of these modern trains are to be manufactured in India as 'Make in India' and the private entity shall be responsible for financing, procuring, operating and maintaining the trains.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)