Wagon mfg cos soar ahead of Rail Budget
Shares of wagon manufacturing companies were in demand for the second day on a trot in anticipation of some positive takeaways from the Rail Budget scheduled on Friday.
By ET Bureau |
MUMBAI: Shares of wagon manufacturing companies were in demand for the second day on a trot in anticipation of some positive takeaways from the Rail Budget scheduled on Friday.
There are expectations that the Railway Minister Lalu Yadav will announce a proposal to introduce more Garib Raths for the benefit of poor commuters. If the proposal is implemented, wagon manufacturing companies like Texmaco and Titagarh Wagons are likely to benefit.
At 12:20 pm, shares of Texmaco rose 9.55 per cent to Rs 59.05 and those of Titagarh Wagons climbed 15.6 per cent to Rs 246.
On a separate note, Kalindee Rail Nirman Engineers has informed the exchanges that its board will meet on Tuesday to consider the issue of raising further capital through GDR/FCCB/convertible warrants route.
Shares of Kalindee Rail Nirman rose 15.18 per cent to Rs 169.95 on BSE.
There are expectations that the Railway Minister Lalu Yadav will announce a proposal to introduce more Garib Raths for the benefit of poor commuters. If the proposal is implemented, wagon manufacturing companies like Texmaco and Titagarh Wagons are likely to benefit.
At 12:20 pm, shares of Texmaco rose 9.55 per cent to Rs 59.05 and those of Titagarh Wagons climbed 15.6 per cent to Rs 246.
On a separate note, Kalindee Rail Nirman Engineers has informed the exchanges that its board will meet on Tuesday to consider the issue of raising further capital through GDR/FCCB/convertible warrants route.
Shares of Kalindee Rail Nirman rose 15.18 per cent to Rs 169.95 on BSE.
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