Rail stocks rally on Modi’s promise to improve sector

Investors are excited about the rail stocks as Modi has been stressing on improvement on beleaguered Indian railways. In his campaign speeches, he also highlighted about modernising the railway system, just like Japan.

मुंबई Mumbai: Shares of rail stocks are gaining in full steam as Narendra Modi heads to become the next Prime Minister of India.

A massive landslide win of NDA swept the nation as the BJP-led NDA powered by Modi has, for the first time, crossed the 300-seat mark with the saffron party alone crossing the half-way mark of 272.

Rail stocks Titagarh Wagons, Kalindee Rail Nirman, Kernex Microsystems, Hind Rectifiers, Texmaco Rail and Engineering and BEML are popping in buyers’ list on Friday.

Investors are excited about the rail stocks as Modi has been stressing on improvement on beleaguered Indian railways. In his campaign speeches, he also highlighted about modernising the railway system, just like Japan.

Another big trigger, that the sector is looking for is introduction of bullet trains as he had mentioned in his election pitch.

Railway stocks (% change)
Titagarh Wagons 5%
Kalindee Rail Nirman 11%
Kernex Microsystems 7%
Hind Rectifiers 2%
Texmaco Rail and Engineering 4%

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