Moneycontrol Bureau
Shares of rail stocks are rallying ahead of interim Rail Budget. Shares of Kalindee Rail Nirman (Engineers), Texmaco Rail and Engineering, Kernex Microsystems (India), Titagarh Wagons jumped 2-4 percent intraday on Wednesday.
Railway Minister Mallikarjun Kharge is likely to announce new trains and some measures for providing better amenities at stations and trains besides steps to strengthen safety for passengers.
Since Lok Sabha elections are round the corner, there are demands from many zones and MPs for new trains.
Kharge has conceded some demands and as a result survey of new lines, extension and increase of certain train service are also to be announced in the vote-on-account statement, sources said. The vote-on-account is likely to mention the expeditious work on coaching complex for maintenance facility at Gulberga.
He is expected to focus on more passenger-friendly measures like installation of upgraded real-time train information system at stations and operation of automatic ticket vending machines at many stations.
While the working expenses have gone up by about Rs 5,000 crore during April-December period, the revenue earnings have decreased by over Rs 3,000 crore. Though Railways have set a target of reaching at 38 per cent of total cargo traffic in the 12th Plan, the cargo share of railways is expected to fall by two to three per cent this year.
At 09:39 hrs Kalindee Rail Nirman (Engineers) was at Rs 68.55, up Rs 2.20, or 3.32 percent, Texmaco Rail and Engineering was at Rs 43.80, up Rs 0.80, or 1.86 percent. Kernex Microsystems (India) was at Rs 38.60, up Rs 1.50, or 4.04 percent and Titagarh Wagons was at Rs 108.45, up Rs 3.15, or 2.99 percent on the BSE.
(With inputs from PTI)
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