Shares of railway stocks dipped after Finance Minister Nirmala Sitharaman s interim budget presentation. The government plans to invest Rs 11.11 lakh crore in the rail sector for 2024-25, including converting 40,000 rail bogies to Vande Bharat standards and creating three rail connectivity corridors.
The Interim Budget 2024, to be presented by Finance Minister Nirmala Sitharaman, is expected to impact investors in rail, defence, and other capex-related stocks. The budget is likely to continue its focus on infrastructure development, including ports, airports, railways, and highways. Last year s budget allocated the highest percentage of expenses towards capex in two decades, indicating a long-term planning approach by the government.
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Railways can see a decent increase in capex, considering greater emphasis on railway modernisation and more Vande Bharat trains, said Prabhudas Lilladher.