Rail related shares rally; Titagarh Wagons up over 10%

Kalindee Rail, Hind Rectifiers, Stone India, Texmaco Rail, Kernex Micro and BEML were up 2%-7% on the BSE.

Shares of railway-related companies are trading higher extending their past one week gain on the Bombay Stock Exchange (BSE) in otherwise subdued market after Morgan Stanley report suggests that India is expected to spend a whopping USD 95 billion (over Rs 6.34 lakh crore) on ramping up its rail infrastructure. CLICK HERE TO READ FULL REPORT.

Titagarh Wagons (up 13% at Rs 149), Kalindee Rail Nirman (7% at Rs 149), Hind Rectifiers (7% at Rs 88), Stone India (7% at Rs 96), Texmaco Rail & Engineering (up 5% at Rs 147), Kernex Microsystems (5% at 54) and BEML (2% at Rs 1,145) have surged on the BSE. At 02:30 PM, the S&P BSE Sensex was up 0.03% at 26,138 points.

Since November 18, in past seven trading sessions most of these stocks have rallied between 9%-33% after the Union cabinet chaired by Prime Minister Narendra Modi approved an investment of Rs 8,349 crore for laying down multiple freight-specific rail lines in Odisha, Chhattisgarh and Andhra Pradesh. The benchmark index gained 2.6% during the same period.