Wagon manufacturers surge ahead of Rail Budget

MUMBAI: Rail wagon makers were in demand for the third straight session on Friday ahead of the interim railway budget on hopes the government will add more capital assets and revise the Liberalised Wagon Investment Scheme, which could generate more demand for wagons.

There are also expectations that the Railway Minister Lalu Yadav will announce a proposal to introduce more Garib Raths for the benefit of poor commuters. If the proposal is implemented, wagon manufacturing companies like Texmaco and Titagarh Wagons are likely to benefit.

At 10:30 am, Kalindee Rail Nirman was up 6.9 per cent at Rs 155.90, Titagarh Wagon rose 5.7 per cent to Rs 260.60 while Texmaco traded at Rs 62.60, up 8.1 per cent.