Railway stocks rally on huge volumes
Railway-related stocks have rallied more than 8% each in an otherwise weak market on the back of huge volumes.
Kalindee Rail Nirman (Engineers), Kernax Microsystems (India), Stone India, Texmaco Rail and Engineering are trading higher by 9-10% each on the Bombay Stock Exchange (BSE). The BSE benchmark index is trading lower by 224 points at 16,654 at 1034 hours.
The trading volumes on these counters have surged almost five-fold. As many a combined 351,336 shares have already changed hands on these four counters so far, against an average less than 72,000 shares traded daily in the past ten trading days on the BSE.
According to media reports, Railways has selected nine wagon manufacturers, including Texmaco and Titagarh Wagons for 15,715 wagon contracts worth Rs 4,000 crore.
Source: Business Standard
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