Shares of 11 companies whose fortunes are linked to orders from Indian Railways rose by 0.22% to 9.25% at 11:00 IST after Prime Minister Narendra Modi appointed Suresh Prabhu as new Union Railway Minister as part of a cabinet expansion.
Zicom Security Systems (up 9.25%), BEML (up 4.22%), Texmaco Rail and Engineering (up 3.96%), Kalindee Rail Nirman (Engineers) (up 3.24%), Kernex Microsystems (India) (up 2.20%), Nelco (up 1.89%), Bharat Heavy Electricals (up 1.73%), Titagarh Wagons (up 1.64%), Stone India (up 1.41%), Container Corporation of India (up 0.46%) and Transformers & Rectifiers (India) (up 0.22%), edged higher.
The S&P BSE Sensex was almost flat at 27,868.18.
Former Shiv Sena leader Suresh Prabhu, who resigned from the party to join BJP, will replace Sadananda Gowda as the railway minister in the expansion-cum-reshuffle of the Narendra Modi ministry after 21 new Ministers were sworn-in on Sunday, 9 November 2014.
Investors anticipate reforms and investment into railways sector after the appointment of the new minister.
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