Railway stocks gather steam as Suresh Prabhu takes charge

By Deepak Korgaonkar  &  Puneet Wadhwa  www.business-standard.com

Shares of railway-related companies gained 2.5 to nine per cent on the BSE in an otherwise subdued market on Monday, a day after Suresh Prabhu replaced D V Sadananda Gowda as railway minister.

The BSE Sensex and Nifty hit record highs on Monday as Prime Minister Narendra Modi’s push to expand his cabinet raised further hopes for economic reforms, but gave up most of their gains towards the end of the session as investors booked profits.

The Sensex rose as much as 0.57 per cent to a record high of 28,027.96, later closing 6.10 points up, to end at 27,874.73. The broader Nifty edged up 0.09 per cent, or 7.25 points, to end at 8,344.25, also marking its record close. More info

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