Rail stocks gain on buzz of cabinet approval for merger of rail and Union budget

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Capital Market
Last Updated : Sep 22 2016 | 12:01 AM IST

Shares of eight companies whose fortunes are linked to orders from Indian railways rose by 0.06% to 4.56% at 14:10 IST on BSE after reports the Union Cabinet allowed merger of the Railway Budget with the Union Budget.

Meanwhile, the S&P BSE Sensex was up 44.52 points or 0.16% at 28,567.32.

NELCO (up 1.02%), Kalindee Rail Nirman (up 2.45%), Titagarh Wagons (up 3.54%), Stone India (up 4.56%), Texmaco Rail & Engineering (up 1.98%), Zicom Electronic Security Systems (up 1.65%), Kernex Microsystems (up 2.93%), and BEML (up 0.06%) gained. Hind Rectifiers fell 1.71%.

The Union Cabinet today, 21 September 2016, reportedly cleared a proposal for merger of the Railway Budget with the Union Budget. The Cabinet also reportedly cleared a proposal to remove the distinction between plan and non-plan expenditure in Budget. The government has also advanced the date for Budget presentation, according to reports. However, it is yet to announce the date.

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First Published: Sep 21 2016 | 2:09 PM IST

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