Shares of rail stocks are in demand with most of them locked in upper circuit after President Pranab Mukherjee in his address to the Joint Session of Parliament today said that the government will launch a diamond quadrilateral project of high-speed trains.
Titagarh Wagons, Kalindee Rail Nirman , Texmaco Rail and Engineering and Kernex Microsystems are frozen at maximum higher limit of the day on the Bombay Stock Exchange (BSE).
Most of these stocks have rallied between 30-70% after a victory of Narendra Modi-led Bharatiya Janata Party in the general elections.
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.
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.
Among the individual stocks, Texmaco Rail and Engineering has surged 10% to Rs 113, while Kernex Microsystems (Rs 76), Kalindee Rail Nirman (Rs 109) and Titagarh Wagons (Rs 298) locked in upper circuit of 5% on the BSE.
Titagarh Wagons, Kalindee Rail Nirman , Texmaco Rail and Engineering and Kernex Microsystems are frozen at maximum higher limit of the day on the Bombay Stock Exchange (BSE).
Most of these stocks have rallied between 30-70% after a victory of Narendra Modi-led Bharatiya Janata Party in the general elections.
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.
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.
Among the individual stocks, Texmaco Rail and Engineering has surged 10% to Rs 113, while Kernex Microsystems (Rs 76), Kalindee Rail Nirman (Rs 109) and Titagarh Wagons (Rs 298) locked in upper circuit of 5% on the BSE.