Rail stocks ride the Modi bandwagon
Texmaco Rail,Kalindee Rail Nirman, Titagarh Wagons, Kernex Microsystems and Hind Rectifiers have rallied by up to 20% on the BSE.
Railway stocks such as Texmaco Rail and Engineering, Kalindee Rail Nirman, Titagarh Wagons, Kernex Microsystems and Hind Rectifiers have rallied by up to 20% each as Narendra Modi is set to become the next Prime Minister of India.
Investors are excited about rail stocks as Modi has been stressing on improving the beleaguered Indian railways. In his campaign speeches, he also highlighted the need to modernise the railway system, just like Japan.
Modi repeatedly referred to bullet trains during his campaign speeches and high-speed trains found a prominent space in BJP's election manifesto.
Among individual stocks, Texmaco Rail and Engineering has soared 20% to Rs 86.45 on the BSE. Kalindee Rail Nirman surged 17% to Rs 93, followed by Kernex Microsystems (14% at Rs 48.60), Hind Rectifiers (6% at Rs 42.85) and Titagarh Wagons (5% at Rs 195).
Investors are excited about rail stocks as Modi has been stressing on improving the beleaguered Indian railways. In his campaign speeches, he also highlighted the need to modernise the railway system, just like Japan.
Modi repeatedly referred to bullet trains during his campaign speeches and high-speed trains found a prominent space in BJP's election manifesto.
Among individual stocks, Texmaco Rail and Engineering has soared 20% to Rs 86.45 on the BSE. Kalindee Rail Nirman surged 17% to Rs 93, followed by Kernex Microsystems (14% at Rs 48.60), Hind Rectifiers (6% at Rs 42.85) and Titagarh Wagons (5% at Rs 195).