India's iconic Vande Bharat train project may finally find a solution to its two Russian-related issues.
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.
Days after senior West Bengal minister Partha Chatterjee was arrested by the Enforcement Directorate in connection with the school recruitment scam, Chief Minister Mamata Banerjee on Wednesday slammed the media for allegedly launching a "malicious campaign" against her party.
Private equity fund manager, ChrysCapital, has acquired a 10 per cent stake in Kolkata-based Titagarh Wagons and plans to invest over $500 million (Rs 2,3.4 billion) in India, over the next 2-3 years.
Analysts seem to be generally pessimistic about Bharat Heavy Electricals (BHEL). Out of 15 brokerages with recommendations since May this year, two have 'buy' while five have 'sell' and eight have 'underweight'/'reduce'/'underperform'/'hold' recommendations. The average target price of the public sector undertaking (PSU) is Rs 61. However, the stock has been consistently hitting new highs, which indicates that there is some kind of valuation mismatch.
Expectations of muted expenditure on railway infrastructure and the assumption that there would be no further fare hikes may have contributed to the fall, according to analysts.
The railway minister said the target of 700 km of new lines in the current year (2012-13) had to be scaled down to 470 km due to inadequate resources.
The only flag bearers of Bengal Inc were Umesh Choudhury, vice-chairman, Titagarh Wagon; Sanjay Bansal, head, Ambootia Tea, S K Banerjee, head, Makaibari Tea.
Rail stocks on Thursday fell by up to 8.6 per cent on the Bombay Stock Exchange (BSE) as cautious investors offloaded shares ahead of the Railway Budget, 2011-2012 to be presented on Friday.
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.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
Railways Minister Sadananda Gowda will present his maiden Rail Budget on July 8 in Parliament.
Experts caution that the rally in these stocks may fizzle out soon, as the overall market sentiment still remains weak.
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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.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ricoh India, the largest gainer among these pack, has rallied 192 per cent from Rs 294 to Rs 859 on the BSE so far in the current calendar year.
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
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.
Sensex seems to be under pressure on weak cues.
TCS, ICICI Bank, Sun Pharma,Tata Motors and HDFC among the top losers for the day
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The broader markets underperformed benchmark indices as the BSE Mid-cap and Small-cap tumbled over 2%.
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%.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Sensex climbs higher on favourable global cues.
Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
Defence ministry incompetence hobbles development of battle-taxis for the Indian Army.
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