Rail stocks continue to rise; gain up to 13%

Tags: Companies
Stocks of companies related to railways sector continued to surge for the second straight session, gaining up to 13 per cent today ahead of the Rail Budget tomorrow.

Shares of Texmaco Rail & Engineering surged 13.03 per cent, while Titagarh Wagons rallied 4.99 per cent on the BSE.

Kalindee Rail Nirman (Engineers) was up 4.96 per cent and Kernex Microsystems soared 4.38 per cent.

On Friday also, these stocks had gained up to 8 per cent.

"Some measures which can be expected in this railway budget are FDI in railways, increasing the number of trains, increasing the speed of the trains by cleaning up surrounding areas of railway tracks, introduction of bullet trains," said Yogesh Nagaonkar, VP- Institutional Equities, Bonanza Portfolio.

Railways Minister Sadananda Gowda will present his maiden rail budget tomorrow in Parliament.

Meanwhile, the broader market was also strong with the benchmark Sensex gaining 138.02 points to close at 26,100.08.

EDITORIAL OF THE DAY

  • EPFO and NPS can deliver better returns only if they invest more in equities

    The employees’ provident fund organisation’s (EPFO’s) reported plan to increase exposure of its investible cash in exchange trade funds (ETFs) f

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Susan Visvanathan

Tracing societies through biographies

Memory is thought to be multilayered and interactive. Small ...

Zehra Naqvi

Let others show you what they see

The power to imagine yourself in someone else’s shoes, to ...

Dharmendra Khandal

When it rains, this beetle starts rolling dung

On the buffer road of a forest, a small metallic ...