Rail Stocks Up Ahead Of Railway Budget

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, February 24, 2016, 11:11 [IST]

Shares in stocks that supply to the railways, were trading slightly higher, after witnessing some selling pressure on Tuesday. Kalindee Rail was up 0.5 per cent, Titagarh Wagons was up half per cent and BEML was up 1 per cent. Texmaco Rail was also up in early trade.

Union Railway Minister, Suresh Prabhu is expected to announce the Rail Budget on Feb 25. With budgetary constraints, it is unlikely that there is going to be huge prospects for Rail companies. This is because the Union Budget 2016, will have to make huge allocations for the 7th Pay commission and also towards the one rank one pension scheme.

Stocks linked to the Railways tend to get fired-up, before the Rail Budget, but, this has not been the case this year.

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