Alstom India, CMC gain as Sadananda Gowda presents Rail Budget 2014

MUMBAI: Shares of Alstom India and CMC moved higher even as other railways related stocks declined as the Railways Minister Sadananda Gowda presented his first railway budget.

Alstom India gained as the minister announced the Diamond Quadrilateral network (connecting five cities) for high-speed trains. The minister has allocated Rs 100 crore for high-speed railway network.

He said the government will fund future projects, especilaly high speed trains via public–private partnership (PPP) mode.

CMC, which provides reservation solution to transporters, moved higher after the minister said the reservation system will be revamped. He added that e-Ticketing through mobile phones will be popularised.

Alstom India was up 5.44 per cent and CMC gained 2.58 per cent.