Broader markets gain but rail stocks fail to rally
Published on Fri, Jul 03, 2009 at 14:44 | Source : Moneycontrol.com
Updated at Fri, Jul 03, 2009 at 16:21
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Broader markets gain but rail stocks fail to rally
Union Railway Minister Mamata Banerjee today presented the Railway Budget for 2009-2010. Fifty stations will be developed with world class facilities, this will be positive for companies like BEML, Texmaco and Kalindee Rail Nirman. The focus on railway safety will be positive for stocks like Integra Hindustan and Kernex Micro Systems.
The market traded flat for most part of the day even as Railway Minister Mamata Banerjee announced a slew of measures in the rail budget on Friday. It however picked up steam in the latter part and made a swift move up. Railway stocks - which are traditionally in focus of budget day - failed to capitalise and mostly traded flat or in the negative (Read on next page: how the budget impacts railways companies).
The stock markets now head into a marquee event on Monday: Union Budget 2009-2010 to be presented by Finance Minister Pranab Mukherjee.
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The market traded flat for most part of the day even as Railway Minister Mamata Banerjee announced a slew of measures in the rail budget on Friday. It however picked up steam in the latter part and made a swift move up. Railway stocks - which are traditionally in focus of budget day - failed to capitalise and mostly traded flat or in the negative (Read on next page: how the budget impacts railways companies).
