Rail Stocks Surge Ahead of Indian Budget
By Rediff Money Desk, NEWDELHI Feb 01, 2024 10:29
Indian railway stocks rise on Thursday ahead of the interim Budget presentation, with investors anticipating increased investments and new projects.
New Delhi, Feb 1 (PTI) Stocks of companies related to railways were trading in the positive territory on Thursday morning ahead of the presentation of the interim Budget.
Shares of IRCON International rallied 3.26 per cent, Texmaco Rail & Engineering jumped 2.71 per cent, Indian Railway Finance Corporation climbed 2.58 per cent and Rail Vikas Nigam advanced 1.52 per cent on the BSE.
The stock of Jupiter Wagons went up 1.46 per cent, Indian Railway Catering and Tourism Corporation (IRCTC) (0.88 per cent) and Titagarh Rail Systems (0.71 per cent).
"In railways, we anticipate a surge in investment, unveiling transformative projects and introducing 300-400 Vande Bharat trains," Suman Bannerjee, CIO of Paris-based hedge fund Hedonova, said.
In the equity market, the 30-share BSE Sensex rose 118.59 points to 71,870.70 points and the Nifty quoted 68.20 points up at 21,789.90 points.
Finance Minister Nirmala Sitharaman will present the interim Budget at 11 am in the Parliament.
Shares of IRCON International rallied 3.26 per cent, Texmaco Rail & Engineering jumped 2.71 per cent, Indian Railway Finance Corporation climbed 2.58 per cent and Rail Vikas Nigam advanced 1.52 per cent on the BSE.
The stock of Jupiter Wagons went up 1.46 per cent, Indian Railway Catering and Tourism Corporation (IRCTC) (0.88 per cent) and Titagarh Rail Systems (0.71 per cent).
"In railways, we anticipate a surge in investment, unveiling transformative projects and introducing 300-400 Vande Bharat trains," Suman Bannerjee, CIO of Paris-based hedge fund Hedonova, said.
In the equity market, the 30-share BSE Sensex rose 118.59 points to 71,870.70 points and the Nifty quoted 68.20 points up at 21,789.90 points.
Finance Minister Nirmala Sitharaman will present the interim Budget at 11 am in the Parliament.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- ARC Finance
- 1.51 (+ 2.72)
- 99106131
- Vodafone Idea L
- 8.27 (+ 1.72)
- 37910491
- Guj. Toolroom Lt
- 18.98 (+ 4.98)
- 33052379
- Srestha Finvest
- 0.81 ( -2.41)
- 24087791
- Filatex Fashions
- 0.69 ( -4.17)
- 20455844
MORE NEWS
Adani Wilmar to Emulate ITC, Expand FMCG Portfolio
Adani Wilmar, India's largest edible oil company, plans to leverage its core business...
India to Boost Exports: 20 Nations Meet Jan 6-8
Indian officials from 20 countries will meet in New Delhi to discuss strategies to...
Karur Vysya Bank Expands in Tamil Nadu with Two...
Karur Vysya Bank has opened two new branches in Tamil Nadu, bringing its total branch...