Two dedicated freight corridors -- Eastern and Western -- are in operation covering several states and districts.
The dream-run in railway stocks may soon run out of steam, caution analysts. The rally, which has lasted nearly a year, may meet time-wise correction post the Union Budget announcements as investors begin scalping profits. "There is going to be a build-up in expectations for the sector from the Union Budget, which is still two-odd months away.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Amid rising demand for coal freight and an aggressive push towards diversifying its freight basket, Indian Railways is planning to buy 100,000 more wagons over the next three fiscal years. The procurement plan will majorly comprise BOXN wagons, which are used to transport coal, said a senior Ministry of Railways official. Notably, the railways recently floated a sizeable tender worth Rs 35,000 crore of wagons, which had been in the pipeline since 2018. "Our Budget Estimates for freight increase were conservative.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
RIL promoter Mukesh Ambani, who is currently in the US, has already held meetings with the top brass of Chevron, ExxonMobil and Texmaco.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 30-share Sensex ended down 261 points at 28,747 and the 50-share Nifty ended down 83 points at 8,684.
Ajit Mishra answers reader queries on the stock market.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Shares of engineering and wagon manufacturing firms surged by up to 4 per cent on the Bombay Stock Exchange in early trade on Friday ahead of the Railway Budget 2009-10. KK Birla Group company Texmaco, which is in the business of wagon manufacturing, gained 2.53 per cent to hit a high of Rs 123.50 within minutes of opening trade. Kalindee Rail Nirman rose by 2.80 per cent to Rs 229.30.
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Railways Minister Sadananda Gowda will present his maiden Rail Budget on July 8 in Parliament.
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Most of the railway-related stocks, which had seen smart gains in the past few days ahead of the Rail Budget, saw profit-booking as Railway Minister Sadananda Gowda presented the Budget.
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
The 30-share barometer started higher, but lost its way soon after the railway budget.
The breadth, indicating strength of the market was strong
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
Financial shares were among the top gainers with HDFC leading the gains.
West Bengal Chief Minister Mamata Banerjee has left no stone unturned this year after big industrialists, along with Union ministers, skipped attending the BGBS 2017.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
Ashok Leyland, ITD Cementation India have more than doubled.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
Beat gains made by mid-cap, broader indices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
The 30-share Sensex ended higher by 30 points.
Caution prevailed across the bourses ahead of the Union Budget.
Stocks might hit new highs even before B-Day.
TCS, ICICI Bank, Sun Pharma,Tata Motors and HDFC among the top losers for the day
The broader markets also ended lower in line with the benchmark indices
For the seven months since February 2014, the benchmark index surged nearly 27%.
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
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