Tuesday, 5 March 2024
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Prior to the Interim Budget, rail stocks rise in value

  • In advance of the interim budget’s announcement, railway businesses in New Delhi are operating profitably.
  • The stocks of Texmaco Rail & Engineering, Indian Railway Finance Corporation, and Rail Vikas Nigam increased by 3.26 percent.
  • The BSE Sensex was down 0.04 percent, or 27.05 points, at 71,725.06, while the NSE Nifty was down 7.65 points.

In advance of the interim budget’s announcement, railway businesses in New Delhi are operating profitably.The stocks of Titagarh Rail Systems, Jupiter Wagons, Indian Railway Catering and Tourism Corporation (IRCTC), and IRCON International increased by 0.88 percent and 1.46 percent, respectively.

The stocks of Texmaco Rail & Engineering, Indian Railway Finance Corporation, and Rail Vikas Nigam increased by 3.26 percent. Since 300–400 Vande Bharat trains would be introduced, Hedonova’s CIO Suman Bannerjee anticipates a spike in railroad investment.

Sensex and Nifty

The 30-share BSE Sensex increased 118.59 points to 71,870.70 points in the equities market, while the Nifty quoted 68.20 points higher at 21,789.90 points. The interim budget will be presented in Parliament at 11 a.m. by Finance Minister Nirmala Sitharaman.

The BSE Sensex was down 0.04 percent, or 27.05 points, at 71,725.06, while the NSE Nifty was down 7.65 points, or 0.04 percent, at 21,718.04 points. There were 2,918 equities traded in total; 1,662 of them increased, 1,164 decreased, and 92 stayed the same.

Based on signals from the GIFT Nifty, Mandar Bhojane, Research Analyst at Choice Broking, believes that the Sensex and Nifty indices would open on a flat-to-positive tone on February 1.

The Banknifty is maintaining above 45,000 levels as an immediate support level, while the Nifty developed a Piercing Candlestick pattern, signaling bullishness.

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