Rail stocks gain up to 4%

Shares of most of the companies related to railway sector rose by up to 4 per cent today after the Cabinet decided to merge rail budget with the General Budget and agreed in-principle to advance the date of its presentation in Parliament from the usual February end.
Stone India surged 4.21 per cent, Kernex Microsystems gained 3.06 per cent, Titagarh Wagons was up 2.81 per cent on BSE.
Among others, shares of Kalindee Rail Nirman gained 1.33 per cent and Texmaco Rail & Engineering rose by 1.12 per cent.
Rail Minister Suresh Prabhu said the merger of rail and General Budgets will not impact the functional autonomy of the railways but help in enhancing capital expenditure.

"One single budget will mean railway and General Budget will work in harmony," Prabhu said, adding railways will not have to pay dividend to the government.
The actual date for presentation of the General Budget for 2017-18 will be decided by the government after taking into account the ensuing assembly elections, Finance Minister Arun Jaitley said while briefing the media about the Cabinet decisions.