Rail-related cos' stocks surge ahead of Rail Budget

Last Updated: Fri, Feb 13, 2009 06:33 hrs

Mumbai: Stocks of engineering and wagon manufacturing firms today surged on the Bombay Stock Exchange ahead of the interim Railways Budget.

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Major gainers include state-run Bharat Earth Movers Ltd (BEML), Container Corporation of India and rail infrastructure developing firm Kalindee Rail Nirman Engineers Ltd.

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Marketmen said wagon manufacturing companies and logistics firms gained on the bourses amid expectations of new contracts as introduction of new trains may be announced in the budget. Interim Railways Budget is likely to have proposals for introduction of more trains such as Garib Rath.

Besides, the Railways Minister is expected to announce some pro-people schemes ahead of the Lok Sabha polls, they added. Kalindee Rail Nirman Engineers Ltd gained 7.6 per cent at Rs 156.90. State-run BEML rose by 4.58 per cent to Rs 413.

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K K Birla Group firm Texmaco, which is in the business of wagon manufacturing, went up by 8.63 per cent to Rs 62.25.

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