Budget 2023: Rail stocks continue to rise on the back of record railway capital outlay
Railway-related stocks continued to rise on Thursday, a day after Finance Minister Nirmala Sitharaman announced a record capital outlay of Rs 2.4 lakh crore for the sector.
Most of the railway-related stocks remained in demand on Thursday, a day after Finance Minister Nirmala Sitharaman announced a record capital outlay of Rs 2.4 lakh crore for the sector.
Indian Railway Catering and Tourism Corp (IRCTC) shares finished 0.3 per cent higher on Thursday.
Rail Vikas Nigam rose 1.7 per cent, IRCON International one per cent, Indian Railway Finance Corp (IRFC) 0.2 per cent.
Titagarh Wagons, however, closed five per cent lower and RailTel fell 2.2 per cent.
Most of the gainers had also risen ahead of the presentation of Budget 2023 in Parliament on February 1.
Also Read: Rail Budget 2023 Highlights: Major push for Railways with 2.4 lakh crore capital outlay
The capital outlay for the railways in Budget 2023 was about nine times compared to the Budget for the financial year 2013-14.
In the Budget, the government proposed to manufacture 35 hydrogen fuel-based trains, 4,500 newly designed automobile carrier coaches with side entry, 5,000 LHB coaches and 58,000 wagons.
Zee Business Research Analyst Kushal Gupta recommends buying RailTel shares the spot market for a target of Rs 118 with a stop loss at Rs 113.
He also recommends buying shares of RVNL for a target of Rs 75 with a stop loss at Rs 70.
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