Shares of eleven railway stocks advanced after the central government announced plans to spend Rs 1.1 lakh crore for railways in FY22.
Kernex Microsystems (India) (up 3.38%), Larsen & Toubro (up 2.57%), Container Corporation of India (up 2.56%), Rites (up 2.15%), Ircon International (up 1.97%), KEC International (up 1.86%), Bharat Heavy Electricals (up 1.8%), Indian Railway Finance Corporation (up 1.41%), IRCTC (up 0.95%), BEML (up 0.87%), NELCO (up 0.6%) edged higher.
Presenting the Union Budget 2021, Finance Minister Nirmala Sitharaman announced plans to provide Rs 1.1 lakh crore to Indian Railways in FY22. She further said that of total outlay, Rs 1.07 lakh crore of provision to Indian Railway in FY22 is for capital expenditure.
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