Rail Budget 2016: KEC International, Kalpataru Power shares buck trend on rail electrification project pipeline

MUMBAI: Railway electrification engineering companies were upbeat by the additional thrust on the space given in the Rail Budget by Minister Suresh Prabhu.

At 2:30 PM, shares of KEC International were up 4% and Kalpataru Power Transmission was up 1%, bucking the broader market trend.

“The budget offers big opportunity for engineering and construction companies which are into railway electrification. Between what has been announced for rail electrification and gauge conversion, we see an order pipeline of Rs 20,000 crore for the sector,” Vimal Kejriwal, managing director and chief executive officer, KEC International, told ET.

Railway Minister Suresh Prabhu increased the outlay for railway electrification by almost 50% and propose to electrify 2,000 kms.