Titagarh Wagons chugs along

After the super surge yesterday, most of the railway stocks have today got into profit booking mode except for Titagarh Wagons, which has hit a new 52-week high once again at Rs.312.55 and currently remains over 3% higher.

The stock remains firmly in the green, expecting to get a bounty from the new Govt when sops and development for the railways is announced.

Yesterday, the President of India, Pranab Mukherjee announced a slew of economic measures which the Govt aims to undertake, where prime amongst them, apart from taming food inflation was a complete revamp of Indian Railways.

The President said, “My government will launch a Diamond Quadrilateral project of high speed trains. The country will have a network of freight corridors with specialised Agri-Rail networks for perishable agricultural products. Investment in railways will be increased using innovative financing methods.  He also said that expansion of railways in NE regions, modernization of rail safety systems would be focus areas.