iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Rail stocks in mixed cues as FM hikes allocation to Rs 2.4 lakh crore in Budget 2023

1 Feb 2023 , 02:18 PM

Rail stocks give mixed cues as FM hikes allocation to Rs 2.4 lakh crore in Budget 2023

Railway stocks experienced heightened demand following the presentation of the Budget 2023-24 by Finance Minister Nirmala Sitharaman, as she announced an increase in capital expenditure allocation for the railway sector to Rs2.4 lakh crore rupees.

The move will benefit all EPC-based companies, as well as product companies in waggons, signalling, communication, and bearings, among other things.

Following the announcement, some of the stocks rallied. Stocks that rallied include KEC International (+2.20%), with over 2% gain. Siemens (+0.98%) also joined the rally with about 1% gain.

However, Titagarh Wagons (-4.99%) plunged about 5%. RVNL’s (-3.55%) scrip dipped nearly 4% so far in today’s trade.

Railways is a key driver of the PM GatiShakti scheme as well as the National Logistics Policy.

The 2023-24 budget saw a substantial allocation to the railway sector, with the government allocating a capital outlay of Rs2.40 lakh crore, a nine-fold increase from the 2013-14 budget. This substantial allocation aligns with industry expectations and has resulted in a surge in stock prices for railway-related companies such as Titagarh, IRCTC, RVNL, and IRCON, according to Nisha Harchekar, the Head of Equity Research at Fintoo.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Budget 2023
  • Budget Announcement 2023
  • FM Nirmala Sitharaman
  • Priority Sector
  • Rail News
  • Rail Stocks
  • Railway Budget
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Petrol and Diesel prices today, May 24th, 2024
24 May 2024|09:52 AM
Stocks under F&O ban today, 24 May, 2024
24 May 2024|09:49 AM
Top 10 stocks for today – 24th May 2024
24 May 2024|09:46 AM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.