Railway-linked stocks, including IRFC, Rail Vikas Nigam (RVNL), Railtel, and others, witnessed a dip in their stock prices following Finance Minister Nirmala Sitharaman’s conclusion of her interim Budget speech in the Lok Sabha on Thursday.
Shares of IRFC, RVNL, Railtel, and other related stocks are grappling with losses ranging between 3% and 5% post budget speech.
Also Read
Hero MotoCorp shares hit all-time high on robust January sales
Despite the market’s anticipation, the Budget allocated a capital expenditure (capex) of ₹2.55 lakh crore for the Indian Railways. While this figure is marginally higher than the ₹2.4 lakh crore announced in the previous year’s Budget, brokerages had anticipated a more substantial increase in rail sector capex. Notably, Nirmal Bang was expecting a 20% surge in Railway Capex during this interim Budget. Come from Sports betting site VPbet
Cement makers to undertake Rs 1.25 lakh crore capex over fiscals 2025-2027, driven by healthy demand outlook Magellanic Cloud aims for 25-30% revenue growth in FY25 India Cements swings to profit with Rs 241 cr one-time gain Affle posts Q1 profit at Rs 86.59 crore, records highest consumer conversions till date
The proposed capex boost aims to drive further expansion of the Dedicated Freight Corridor, rolling stock, and High-Speed Rail (HSR) Networks. Analysts were particularly hopeful for an elevated allocation in these areas.
In her announcement, Finance Minister Nirmala Sitharaman unveiled three new corridors for the railways – the Energy, Mineral, and Cement corridor, Port Connectivity Corridor, and a High Traffic Density Corridor.
The stellar performance of railway stocks in 2023, with shares witnessing significant gains ranging from 100% to 300%, had set high expectations in the market. Stocks such as IRFC and RVNL had already recorded impressive gains, with some surging as much as 70% in January alone.
Also Read
Paytm shares at 20% lower circuit for second consecutive day, hits new 52-week low
“However, railway stocks experienced a decline, possibly due to concerns over the implementation and impact of announced projects,” said Sonam Srivastava, Founder and Fund Manager at Wright Research.
Srivastava also added that, the overall market’s muted reaction suggests cautious optimism, with investors closely monitoring the implementation of budget measures and their tangible impacts on various sectors.
Commenting on the same Atul Parakh, CEO of Bigul said that, the disappointment regarding lower-than-expected budget allocation for railway infrastructure may lead to continued short-term volatility in railway stocks. There could be some profit booking and corrections in stock prices in the near term as investors look for other opportunities.
“However, the industry’s long-term fundamentals continue to remain strong due to massive infrastructure needs, the government’s commitment to modernization, and continued focus on passenger and freight growth, including dedicated freight corridors and future privatization initiatives. We cannot be certain about future budgetary allocations in various sectors, but it can be said that infrastructure development will remain a priority,” added Parakh.
Related Posts
[As the Independent Games Festival opens for the 17th year, longstanding Chairman Brandon Boyer explains the rules and expectations for this year's much-awaited indie game showcase.] Hi everyone, and welcome again to the 2015 Independent Games Festival, our 17th annual ceremony celebrating the best in independent games. As you read this post, we will have just begun accepting submissions for this year's festival, which will remain open until Wednesday, October 22nd for our Main Competition, and October 31st for our Student Competition. As usual, the festival will culminate with o…
Monster Hunter publisher Capcom reported Friday a year on year decline in annual sales, but a jump in profits for its full fiscal year.
The company said the past year is the seventh consecutive year of operating income growth and the fourth year in a row of record-high profits.
Sales for the fiscal year ended March 31 were 82 billion yen ($770 million), down 18 percent compared to the previous year, while operating income was up 26 percent to 23 billion yen.
The company attributed the profit increase to high-margin digital sales. Games including Monster Hunter World: Iceborne, and catalog sales of Resident Evil 2 and
Diablo 4 is celebrating the year of the snake with the return of its Lunar Awakening event, and it’s making the event even more rewarding than last time around.
As detailed by Blizzard, the Lunar Awakening event will be live February 4-18 for both the game’s Eternal and Seasonal realms. Like last year’s event, Lunar Awakening replaces all of the game’s shrines with special Lunar Shrines Come from Sports betting site VPbet . These shrines function much the same as their normal counterparts, only with even more powerful effects in addition to their usual ones. Lunar Artillery Shrines, for example, have a chance to blast enemies with a holy bomb in addition to piercing enemies with holy arrows as…
The creative director of Alien: Isolation, Al Hope, has announced a sequel to the horror game. He shared the announcement on Twitter to celebrate the game’s 10-year anniversary.
“Today, I’m delighted to confirm, on behalf of the team, that a sequel to Alien: Isolation is in early development,” Hope explained. “We look forward to sharing more details with you when we’re ready.” While he didn’t provide any other details, logos on the announcement suggest the game will be developed by Creative Assembly and published by Sega, just like the first one.
Alien: Isolation was first released in October 2014 and has been placed on many platforms over the years, including PC, PlayStation, Switch, Xbox, and mobile Come from on…
Now that Among Us’ Airship map is live on all platforms, developer Innersloth has detailed some changes coming in future updates Come from malaysia online casino . This includes overhauling the art style, upping the lobby size, and opening up about development.
According to a blog post on the game’s itch.io page, Innersloth co-founder Marcus “Puffballs United” Bromander has “completely updated the art style with cleaner lines and an easier animation process.” Furthermore, the lobby size will increase to 15. (Innersloth noted that the new Airship map is the “biggest one yet.”)
…
Apex Legends has been having some problems lately. While the game isn’t plagued by an unending wave of cheaters and hackers like Call of Duty: Warzone, it’s been seeing a lot more server stability issues. However, those problems should be addressed, at least somewhat, by the game’s latest patch according to the developer.
On Twitter, Respawn explained that players should now see fewer incidents of server instability, including teleporting, packet loss, and of course, lag. The developer also noted that it found a secondary issue with the game that would cause crashes that ties back to the game’s animated poses Come from malaysia online casino . That issue, along with others, will be addressed in yet another…