Railways linked stocks gain ahead of budget
Mamata Banerjee is likely to keep in mind the assembly election in West Bengal in next two months and may announce a populist budget.
By ET Bureau |
MUMBAI: Union Railways Minister, Mamata Banerjee, will present her railways budget in the Parliament today. According to analysts, the minister is likely to keep in mind the assembly election in the West Bengal in next two months may announce a populist budget.
“Freight rates not likely to be hiked as Railways has sought a hike in Dec 10 of approximately 4%. No hike expected on the freight side – Little impact on Concor or GDL major.
Railways budgeted procurement of 18,000 wagons in FY11E, we expect similar levels of procurement for FY12E. Companies to watch out– Texmaco and Titagarh Wagons. We expect the increase in plan outlay will benefit companies like - L&T, Kernex Microsystems, BEML, Kalindee Rail, ARSS Infra and Hindustan Rectifier,” said, Jitesh Bhanot, research analyst of Emkay Global Financial Services.
Shares of Container Corporation of India were at Rs 1100.05, up 0.66 per cent on the NSE. It touched a high of Rs 1109.95 and low of Rs 1095.20 in trade so far.
Gateway Distriparks moved 0.91 per cent higher to Rs 116.05 on the NSE. It touched a high of Rs 118.90 and low of Rs 114.50 in trade so far.
Texmaco was at Rs 41.60, up 2.46 per cent on the NSE. It touched a high of Rs 42.65 and low of Rs 40.30 in trade so far.
Titagarh Wagons moved 0.55 per cent higher to Rs 384 on the NSE. It touched a high of Rs 398.95 and low of Rs 372.35 in trade so far.
BEML gained 1 per cent or Rs 6.35 to Rs 639.95 on the NSE. It moved between a high of Rs 663.90 and low of Rs 628 intraday.
Kernex Microsystems was witnessing a subdued session. It slipped to Rs 98.95, down 0.80 per cent on the NSE. It touched a high of Rs 101.90 and low of Rs 95.10 in trade so far.
Kalindee Rail Nirman was at Rs 131.40, down 2.27 per cent on the NSE. It moved between a high of Rs 139.45 and low of Rs 126.40 intraday.
“Freight rates not likely to be hiked as Railways has sought a hike in Dec 10 of approximately 4%. No hike expected on the freight side – Little impact on Concor or GDL major.
Railways budgeted procurement of 18,000 wagons in FY11E, we expect similar levels of procurement for FY12E. Companies to watch out– Texmaco and Titagarh Wagons. We expect the increase in plan outlay will benefit companies like - L&T, Kernex Microsystems, BEML, Kalindee Rail, ARSS Infra and Hindustan Rectifier,” said, Jitesh Bhanot, research analyst of Emkay Global Financial Services.
Shares of Container Corporation of India were at Rs 1100.05, up 0.66 per cent on the NSE. It touched a high of Rs 1109.95 and low of Rs 1095.20 in trade so far.
Gateway Distriparks moved 0.91 per cent higher to Rs 116.05 on the NSE. It touched a high of Rs 118.90 and low of Rs 114.50 in trade so far.
Texmaco was at Rs 41.60, up 2.46 per cent on the NSE. It touched a high of Rs 42.65 and low of Rs 40.30 in trade so far.
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Titagarh Wagons moved 0.55 per cent higher to Rs 384 on the NSE. It touched a high of Rs 398.95 and low of Rs 372.35 in trade so far.
BEML gained 1 per cent or Rs 6.35 to Rs 639.95 on the NSE. It moved between a high of Rs 663.90 and low of Rs 628 intraday.
Kernex Microsystems was witnessing a subdued session. It slipped to Rs 98.95, down 0.80 per cent on the NSE. It touched a high of Rs 101.90 and low of Rs 95.10 in trade so far.
Kalindee Rail Nirman was at Rs 131.40, down 2.27 per cent on the NSE. It moved between a high of Rs 139.45 and low of Rs 126.40 intraday.
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