Shares of railway related stocks for example Titagarh Wagons, Texmaco Rail & Engineering, Kalindee Rail, Kernex Microsystems & Hind Rectifiers are dealing less by up to 7%, increasing their previous day’s fall, as no major announcements was made by the Railway Minister, Mallikarjun Kharge in his interim budget.
Among the individual shares, Titagarh Wagons is down 7% to Rs 96.80 on the BSE. Kernex Microsystems & Hind Rectifiers are down 6% each at Rs 33.50 & 29.90 respectively, while Kalindee Rail Nirman down 5% at Rs 62.20 & Texmaco Rail & Engineering by 4.5% at Rs 39.35 at 1025 hours.
The Interim Railway Price range for 2014-2015 has refrained from any major policy measures or capex related increases, analyst at Angel Broking said in a customer note.
The govt would be presenting the Interim Union Budget for 2014-2015 on Feb 17, 2014 and analyst does not expect any major policy announcements in the same.
We believe that the govt is likely to subtract the lack at the budgeted stage of 4.8% of GDP by important reduces in strategy expenses from the budgeted stages, rolling-over discretionary expenditure into the next financial year as well as strongly seeking for to produce from non-tax earnings & disinvestment invoices, said analyst.
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