While leaving passenger fares unchanged in the Railway Budget 2016 speech, Railway Minister Suresh Prabhu on Thursday said that the core objective of Indian Railways is to become an engine of economic growth and create employment and provide customer service.
Most of rail-related companies stocks fell on Thursday after the Rail Budget 2016 failed to enthused investors. The BSE Sensex closed 112.93 points down at 22,976.
Below are top 9 railway-related remained in focus on Thursday.
BEML: BEML was established in May 1964 as a public sector undertaking for manufacture of rail coaches and spare parts and mining equipment at its Bangalore Complex. Government of India holds 54 per cent of total equity in the company. The share price of BEML closed 4.06 per cent down at Rs 976.65.
Kalindee Rail: Kalindee Rail Nirman (Engineers) is engaged as engineering, procurement and construction (EPC) contractors for railway sector. The company is a construction company engaged in building infrastructure for rail transport, which include signaling, telecommunications, track and information systems. The stock of Kalindee Rail tumbled nearly 9.26 per cent to Rs 122.50.
Alstom T&D: Alstom is engaged in power generation, power transmission and rail infrastructure. The company also build high-and-medium-volatage substations and develops technologies to manage power grids worldwide. Alstom T&D shares slid 1.27 per cent down at Rs 362.80.
Siemens Ltd: Siemens Ltd in India has emerged as a leading inventor, innovator and implementer of leading-edge technology enabled solutions operating in the core business segments of Industry, Energy and Healthcare. The company also offers products and solutions in railway signaling and safety systems, traffic control and automation, electrification, traction equipment for locomotives and multiple unit system and mass transit vehicles. Shares of Siemens closed almost flat at Rs 994.25.
Hind Rectifiers: The company is engaged in developing, manufacturing and marketing power semi conducters, power electronic equipments and railway transportation equipments. Shares of Hind Rectifiers closed 7.69 per cent down at Rs 63.
Titagarh Wagons: Titagarh Wagons Ltd is primarily engaged in the manufacturing of railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration. The company also manufactures products for the Indian defence establishment, such as special wagons, shelters and other engineering equipments. Titagarh Wagons shares closed 8.40 per cent down at Rs 113.35.
Texmaco Rail & Engineering: Texmaco Rail & Engineering Limited operates in two business segments: heavy engineering division and steel foundry division. The company manufactures a diverse range of products, such as railway freight cars, and hydro-mechanical equipment. The share price of the company settled 8.78 per cent down at Rs 119.55.
Stone India: Stone India is the undisputed leader in locomotive brake systems and has a wide range of mechanical and electrical products for the rail road industry. Stone India shares plunged 5.74 per cent down at Rs 64.05.
Kernex Microsystems (India): Kernex Microsystems (India) is engaged in the manufacture and sale of anti-collision systems for the railways. Kernex Microsystems shares settled 4.89 per cent down at Rs 35.95.