Stocks in India are likely to open lower on negative global cues on Thursday. But the fall is not going to be steep, as the all eyes will focus on the Railway Budget that will be presented by Mamata Banerjee today in the parliament. Expect the benchmark index or the Sensex to be volatile today and who knows, we might end up in the positive territory by the end of the day, if all goes well
Indian markets are likely to fare better than the global markets as positive news from the economic survey and any surprises in the railway budget might provide much needed support for the falling markets. Stocks did not react positively to the news of economic survey projecting, a 7.75 percent growth for Indian economy. It looks like investors are tensed before taking positions in the market, ahead of the budget and this has resulted in a flat market.
We expect Mamta Banerjee not to make significant changes to the fares of second class passengers. We could see some huge hikes on first class and AC fares. The government is likely to implement new projects and heavy infra spending and modernisation of existing railway infrastructure. Kalindee Rail RS 224, Titagarh Wagons, Kernex Micro and GDL are the stocks to watch out in today's trade, as these stocks will be the key beneficiaries of the new spending.
Overall, an exciting day for the markets as the indices are likely to be very volatile intraday. JP Hydro, Emco Ltd, Prakash Ind, Moser Baer and Praj Ind are some of the stocks that are worth keeping on radar