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The Rugby and Stamford Railway was an early railway in England built in 1850. The London and Birmingham Railway had already built a branch from Blisworth to serve Northampton and extend to Peterborough. The success of this, the Northampton and Peterborough Railway encouraged the directors to look for other ventures. They decided upon a branch from Rugby to Stamford which would link up with other new railways in the east of the country.
At approximately the same time the Midland Railway was building its Syston to Peterborough line which opened in 1848. It was therefore necessary to share its line between Luffenham and Stamford.