Railway stocks such as Texmaco Rail and Engineering, Kalindee Rail Nirman, Titagarh Wagons, Kernex Microsystems and Hind Rectifiers have continued their upward march on hopes that Bhartiya Janta Party's Prime Minister designate, Narendra Modi will stand by his promise to improve the Indian Railways.
While in BJP’s election manifesto, high speed trains found prominence, Modi during his poll campaigns, stressed upon modernising the railway sector and repeatedly referred to introduction of bullet trains.
With the BJP-led NDA garnering a clear majority of 335 seats in the 16th Lok Sabha and the opposition being decimated, the Modi led-government is unlikely to face any hurdle to push railway reforms.
Among individual stocks, Kalindee Rail Nirman (Engineers) and Texmaco Rail and Engineering are locked at the upper circuit of 20% each at Rs 112 and 103 respectively on the BSE.
Kernex Microsystems (India) is also frozen 20% higher at Rs 57.80, followed by BEML (up 17% at Rs 547) and Titagarh Wagons (5% at Rs 205). The S&P BSE Sensex was up 222 points or 0.92% at 24,344.21 at 1420 hours.
