Railways related stocks decline ahead of rail budget

Shares of seven companies whose business is related to railways fell by 0.36% to 4.46% at 11:08 IST on BSE ahead of the presentation of Railway Budget today, 8 July 2014.

Texmaco Rail and Engineering (down 4.46%), Kernex Microsystems (India) (down 3.52%), Stone India (down 2.92%), Titagarh Wagons (down 1.77%), BEML (down 1.66%), Simplex Casting (down 1.06%) and Bharat Heavy Electricals (down 0.36%) edged lower.

Hind Rectifiers (up 2.51%), Container Corporation of India (up 2.44%), Transformers & Rectifiers (India) (up 1.91%) and Kalindee Rail Nirman (Engineers) (up 1.48%) gained.

Meanwhile, the S&P BSE Sensex was down 53.98 points, or 0.21% at 26,046.10

Railway Minister Sadanand Gowda is reportedly likely to announce a slew of measures to garner funds such as tapping foreign investments, encouraging private players and outlining public-private partnership (PPP) models to revamp rail infrastructure. Gowda may announce plans to accelerate the project relating to running bullet trains (300 kmph) on Mumbai-Ahmedabad corridors and increasing the speed of elite Rajdhani and Shatabdi trains to 160-200 kmph. The minister is expected to desist from populism and focus on streamlining the system and announce measures to enhance safety and passenger amenities.

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