Railway stocks pick up steam ahead of Rail Budget

MUMBAI: Even as the rest of the market remained weak following global cues, shares of companies servicing the railway industry were in demand on hopes that the Rail Budget could offer some respite.

Wagon makers are expecting new rail infrastructure projects to kickstart and more passenger trains in the upcoming budget as the new Railway Minister Mamata Banerjee presents the Budget at the Lok Sabha later today.

At 10:15 am, shares of Kalindee Rail Nirman climbed 2 per cent to Rs 228, Titagarh Wagons advanced 1.75 per cent to Rs 447 and Texmaco gained 1.66 per cent to Rs 122.45.