Sep 22, 2016

Rail stocks gain on buzz of cabinet approval for merger of Rail & Union Budget

Mumbai: Shares of eight companies whose fortunes are linked to orders from Indian Railways rose by 0.06% to 4.56% at 14:10 IST on BSE after reports the Union Cabinet allowed merger of the Railway Budget with the Union Budget.
Meanwhile, the S&P BSE Sensex was up 44.52 points or 0.16% at 28,567.32.

NELCO (up 1.02%), Kalindee Rail Nirman (up 2.45%), Titagarh Wagons (up 3.54%), Stone India (up 4.56%), Texmaco Rail & Engineering (up 1.98%), Zicom Electronic Security Systems (up 1.65%), Kernex Microsystems (up 2.93%), and BEML (up 0.06%) gained. Hind Rectifiers fell 1.71%.

The Union Cabinet today, 21 September 2016, reportedly cleared a proposal for merger of the Railway Budget with the Union Budget.

The Cabinet also reportedly cleared a proposal to remove the distinction between plan and non-plan expenditure in Budget.

The government has also advanced the date for Budget presentation, according to reports. However, it is yet to announce the date.