Railways Vote on Account 2014: Rail stocks take a sudden plunge as Mallikarjun presents budget

MUMBAI: Rail stocks took a sudden plunge as Railway Minister Mallikarjun Kharge presented the interim Rail Budget.

At 12:28 pm, Titagarh Wagons was at Rs 104.40, down 0.85%.

Kernex Microsystems was at Rs 36.00, down 2.96%.

BEML was at Rs 201.50, down 1.74%.

Kalindee Rail Nirman was Rs 66.25, down 0.15%.

Hind Rectifiers was at Rs 33.15, down 5.82%.

Compared to these figures, at 10:15 a.m.; Titagarh Wagons was up 2.04 per cent, Kernex Microsystems gained 1.75 per cent, BEML moved up 1.01 per cent, Kalindee Rail Nirman advanced 1.73 per cent and Hind Rectifiers was 2.41 per cent lower.

Following are the highlights of Mallikarjun Kharge's interim Rail Budget speech:

- Completed doubling gauge of 2,227 kms vs target 2,000 kms

- Completed electrification of 4,556 kms vs target of 4,500 kms

- Have successfully met 6th pay panel recommendations

- To run more passenger trains at higher speed as needed

- Met extra expenditure through internal accruals

- Dedicated freight corridor to cut transit time by half

- As part of national integration, we have been seeking to better connect North-East areas