Scrips rise 13% ahead of Railway Budget

Jul 08 2014, 02:02 IST
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SummaryAhead of the Railway Budget on Tuesday, railway stocks gained up to 13% on Monday.

Ahead of the Railway Budget on Tuesday, railway stocks gained up to 13% on Monday. Texmaco Rail (13.03%), Container Corp (6.2%), Titagarh Wagons (4.99%), Kalindee Rail (4.96%), Kernex Microsystems (4.38%) and BEML (5%) were among the major gainers on BSE. YTD, these stocks have gained as much as 82-246%.

Experts believe the Railway Budget would need to focus on increasing investment in railway tracks and related infrastructure. “Railways needs to expedite completion of its dedicated freight corridor projects as well as build new tracks in areas where utilisation is above the track capacity.

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At the same time, several projects which were spawned under political considerations need to be rationalised as per the estimated revenue-paying traffic likely on the line,” said Vishwas Udgirkar, a senior director, Deloitte Touche Tohmatsu India.

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