21 Jul 2019 | 11:27 PM

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COMPANYNEWS
Rail stocks zoom on Cabinet nod to Rail Development Authority
  Stone India Ltd. | 10 Sep 2018 | 04:01 PM
Published on 04-06-2017
Shares of railways related companies spiked on Thursday after the Union Cabinet approved setting up of Rail Development Authority which will create positive environment for investment. Following the announcement stocks such as Texmaco Rail Titagarh Wagons Kernex Microsystems BEML and Stone India rallied between 10-19 per cent.


Cheering the news shares of Stone India gained as much as 18.60 per cent to hit intra-day high of Rs 81.90 apiece on the Bombay Stock Exchange.


In a similar fashion stocks of Titagarh Wagons advanced 2.30 per cent to Rs 124.40 apiece on the Bombay Stock Exchange.


Among others Texmaco Rail Kernex Microsystems and BEML gained between 1.5-5 per cent.


Meanwhile the broader benchmark BSE Sensex was trading at 29840.99 down 133.25 points or 0.44 per cent at 11:40 hours.