Ahead of the Budget, the Railway Board has recommended a hike in rail fares and Railway Minister Sadananda Gowda will meet Prime Minister Narendra Modi before taking a final decision.
Rail stocks are once again hogging limelight as buzz of railway fare and freight rate gathers steam. Titagarh Wagons , Kalindee Rail Nirman , Kernex Microsystems and Texmaco Rail and Engineering rallied 5-10 percent intraday on Wednesday.
Ahead of the Budget, the Railway Board has recommended a hike in rail fares and Railway Minister Sadananda Gowda will meet Prime Minister Narendra Modi before taking a final decision.
"I will discuss the fare issue with the Prime Minister. A decision will be taken after discussion with the PM," Railway Minister D V Sadanand Gowda said after meeting Finance Minister Arun Jaitley.
Government sources say that the PM is reluctant to increase passenger fares of sleeper class, but may agree to hike AC 1st class and 2nd AC fares.
Sources say a marginal increase in freight fares is expected of up to 5 per cent.
The national transporter, facing a loss of about Rs 900 crore per month in passenger segment, had on May 16 announced a hike in both passenger fares and freight rates by 14.2 percent and 6.5 percent respectively from May 20. However, the hike notification was put on hold later in the day leaving the decision to the next Railway Minister.
The operating ratio, a measure of expenses as a percentage of revenue, is seen deteriorating to 90.8 percent in 2013-14 compared with a budgeted 87.8 per cent and 90.2 percent in 2012-13. Railways have targeted to improve this to 89.8 percent in 2014-15.
| Stocks | CMP | Intraday high |
| Titagarh Wagon | Rs 313 | 5% |
| Kalindee Rail | Rs 118.45 | 5% |
| Kernex Micro | Rs 74.40 | 5% |
| Hind Rectifiers | Rs 54.03 | 1% |
| Texmaco Rail | Rs 119 | 10% |
With inputs from IBNlive
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