The union government is likely to move a proposal to merge two of its listed public sector undertakings (PSUs), Rail Vikas Nigam Ltd (RVNL) and Ircon International, a top government official said on Tuesday. The ministry of railways owns a majority stake in both Rail Vikas Nigam (72.8 per cent), Ircon International (65.17 per cent), and the two companies have a combined market capitalisation of around ₹65,000 crore. After reports earlier this month said that the merger was on the table, the two companies had informed stock exchanges that they had not been informed of any such proposal so far by the government.

Source: International New York Times March 24, 2026 18:57 UTC