 "Rail related stocks in focus; Titagarh Wagons, Texmaco Rail surge 20%")
Shares of railway related stocks such as Titagarh Wagons, Texmaco Rail & Engineering, Cimmco, Hind Rectifiers and Commercial Engineering & Body Builders Company have rallied up to 20% on the BSE.
According to a PTI report, the railway is looking at 4,000 km of track renewal in each of the next two financial years --2018-19 and 2019-20. Its estimated cost for 2018-19 is a little above Rs 100 billion.
Among the individual stocks, Titagarh Wagons, the second largest freight wagon manufacturer in India, is locked in the upper circuit of 20% at Rs 86.55 on the BSE on the back of an over four-fold jump in trading volumes. Till 02:07 pm; a combined 1.56 million equity shares changed hands and there were pending buy orders for 302,974 shares on the BSE and NSE.
Texmao Rail & Engineering has rallied 19% to Rs 70, after surging 20% (Rs 70.80) on the BSE in intra-day trade. The trading volumes on the counter more than doubled with a combined 1.68 million equity shares changed hands on both the exchange so far.
Texmaco Rail & Engineering manufactures a diverse range of products viz. railway freight cars, hydro-mechanical equipment & industrial structurals, steel castings, and pressure vessels, etc.
The Indian Railways' global tender worth Rs 25 billion for the supply of long rails will open today; the PTI report suggested quoting sources in the ministry. CLICK HERE TO READ FULL REPORT
According to a PTI report, the railway is looking at 4,000 km of track renewal in each of the next two financial years --2018-19 and 2019-20. Its estimated cost for 2018-19 is a little above Rs 100 billion.
Among the individual stocks, Titagarh Wagons, the second largest freight wagon manufacturer in India, is locked in the upper circuit of 20% at Rs 86.55 on the BSE on the back of an over four-fold jump in trading volumes. Till 02:07 pm; a combined 1.56 million equity shares changed hands and there were pending buy orders for 302,974 shares on the BSE and NSE.
Texmao Rail & Engineering has rallied 19% to Rs 70, after surging 20% (Rs 70.80) on the BSE in intra-day trade. The trading volumes on the counter more than doubled with a combined 1.68 million equity shares changed hands on both the exchange so far.
Texmaco Rail & Engineering manufactures a diverse range of products viz. railway freight cars, hydro-mechanical equipment & industrial structurals, steel castings, and pressure vessels, etc.
The Indian Railways' global tender worth Rs 25 billion for the supply of long rails will open today; the PTI report suggested quoting sources in the ministry. CLICK HERE TO READ FULL REPORT
Most of these stocks have underperformed the market by falling up to 50% in past six months, as compared to 2% rise in the S&P BSE Sensex.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%