Rail stocks News

Rail stocks Thursday witnessed heavy selling pressure, falling by up to 9.3 percent, as the Railway Budget for 2016-17 failed to lift investor sentiment.

In step with overall buoyant trend, share prices of companies that cater to the railway sector Friday saw huge buying, surging in range of 2-11 percent after a poor show on Rail Budget day.

Rail stocks showed a mixed trend in morning trade today ahead of the Railway Budget to be presented shortly.

Shares of companies related to the railways sector Monday closed up to 9 percent higher a day after Prime Minister Narendra Modi expanded his Union Cabinet and appointed Suresh Prabhu as the new Railway Minister.

Rail stocks Thursday ended with as much as 5 percent gains after the government notified liberalised FDI norms for the sector, permitting 100 percent foreign direct investment through automatic route in several areas, including high speed trains.

Rail stocks on Thursday gained as much as 14.3 percent after the government notified liberalised FDI norms for the sector, permitting 100 percent foreign direct investment through automatic route in several areas, including high speed trains.

The 50-issue CNX Nifty of the NSE also gyrated in a range of 7,708.95 and 7,630.40 before concluding down by 22.80 points or 0.30 percent at 7,649.25.

Shares of companies engaged in railways-related businesses Monday rallied on the back of a hike in passenger fares and freight rates to improve finances of Indian Railways.