Mumbai: Shares of companies related to the railways sector Monday closed up to 9 percent higher a day after Prime Minister Narendra Modi expanded his Union Cabinet and appointed Suresh Prabhu as the new Railway Minister.
Texmaco Rail & Engineering surged 8.98 percent, while Kalindee Rail Nirman (Engineers) climbed 8.10 percent and Titagarh Wagons rose by 3.62 percent on the BSE.
Kernex Microsystems India jumped 4.96 percent, Stone India was up 2.58 percent.
Market experts said these scrips rose on hopes of reforms and investment in the rail sector.
Suresh Prabhu was yesterday inducted into the Union Cabinet and given Railway portfolio as Prime Minister Narendra Modi undertook an expansion of his council of ministers and reshuffled portfolios while bringing in 21 new faces.
In the broader market, the BSE benchmark Sensex ended flat, up 6.10 points at 27,874.73.
