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

  • The government needs to explain the `67,382 crore IDS declarations

    The authenticity of disclosures made by individuals and companies under the much-publicised Income Disclosure Scheme (IDS) has come under scrutiny.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

<b>Disequilibrium:</b> The Looking glass war

In the looking glass war, where bitter adversaries - Ratan ...

Ananda Majumdar

<b>Ruminations:</b> How JP can wake up Cong

The Congress party has clearly missed a trick with its ...

Kuruvilla Pandikattu

Let go of ‘if onlys’, live in the moment

The prospect of facing certain death and reflecting on it ...