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Rail stocks steady ahead of Railway Budget
A day ahead of the Railway Budget, share prices of companies catering to the Railways saw a subdued trend with most of the stocks trading with a slight negative bias.
Kalindee Rail was down marginally by 1 per cent, while Stone India also shed 1 per cent. Texmaco Rail and Engineering, however, gained 2 per cent, while Titagorh Wagons lost 1.78 per cent.
The Rail Budget is to be presented by Railway Minister Pawan Bansal on Tuesday. According to a PTI report Bansal is likely to announce a slew of passenger-friendly measures such as improvement in catering service, development of stations and launching of about 100 new trains in his maiden budget on February 26.
"All attention will be, however, on passenger fares as Bansal had recently told reporters that the increase in diesel price following the fare hike has negated the additional revenue which Railways expected to mop up by Rs 3,300 crore," the PTI report stated.
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