Responsive Industries zooms 14% on major Indian Railways order buzz

Shares of Responsive Industries rose 14% to close at 130 on Monday amid buzz that the company may soon secure some large orders from Indian Railways.

Responsive is among the world's largest integrated PVC flooring, PVC leather and shipping ropes manufacturing companies. It supplies around 97% of the Indian Railways demand for artificial leather and flooring for railway coaches.

A senior company official declined to comment. The stock has gained around 30% in the past one week. While the quantum of the order could not be ascertained, brokers said that the company is one of the largest suppliers to the railways in this segment.

As per reports, Indian Railways will place orders for around 43,000 new coaches in the next few years and Responsive is expected to be a key beneficiary of this.