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Live! Markets extend losses; Sensex hovering around 26,000

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July 08, 2014


13:17  Sensex losers include, L&T, TCS, ICICI Bank, ONGC and SBI among others.
13:13  Will add 64 new AMUs in Mumbai

Will use station rooftops to harness solar energy: Gowda

Propose to set up project formulation and management group
13:05  Sadananda Gowda: To set up modern logistic parks, warehouses for freight storage

Recent fare and tariff hike to mop additional revenue of about Rs 8,000 crore: Railway Minister

Railway Minister: Railways to develop 10 major stations to global standards

Status of ongoing projects will be available online: Gowda

A
llocation for North-East up 54% over last year: Gowda

E-procurements to be made compulsory for procurements above Rs 25 lakh

Will speed up coal connectivity in areas like Jharsuguda: Gowda

Rail Budget impact: Titagarh Wagons, BEML down 5% and 4% respectively

Will facilitate connectivity to new ports via pvt partnership

Recent fare and tariff hike to mop additional revenue of about Rs 8,000 crore: Gowda
13:00  Will facilitate connectivity to new ports via pvt partnership

Rail Budget impact: Titagarh Wagons, BEML down 5% and 4% respectively

Will facilitate connectivity to new ports via pvt partnership

R
ecent fare and tariff hike to mop additional revenue of about Rs 8,000 crore: Gowda

Railways to offer Wi-fi services in all A1 stations: Gowda

Railway Minister: Onboard housekeeping services will be extended to all trains. Will use mechanized laundry services for bedrolls in AC coaches.
12:58  At 1303 hour the 30-share BSE Sensex down 135 points at 25,964.63. The NSE Nifty is down 50 points at 7,737.40.
12:54  On track: Paperless office in Railways within next five years, All trains to be wi-fi enabled, Mobile-based wake-up call system

Efforts will be made to increase speed of trains to 160-200, on select sectors

R
ecent fare and tariff hike to mop additional revenue of about Rs 8,000 crore: Gowda

Will offer Wi-fi services in all A1 stations: Gowda

To allot Rs1,780 cr to eliminate unmanned level crossings
12:49  Mumbai-Ahmedabad route to get first Bullet train

Diamond quadrilateral of high speed trains connecting major metros, budget Rs 100 cr

Track renewal budget pegged at Rs 40,000 cr


Proposes Railway University for technical and non-technical subjects

Railways to scale down market borrowings to Rs 11,790 crore

Ticket bookings through post offices and mobile phones will be popularized, also coin operated ticket machines: Gowda

Will ramp up e-ticketing services to reach a generation target of 7,200 tickets a minute
12:46  4,000 women RPF constables to be recruited for women's coaches: Gowda

Automatic closing of doors in suburban and outstation trains on pilot basis: Gowda

Reservation system will be revamped: Gowda

Will encourage wagon-leasing market: Gowda

To encourage corporate houses to adopt stations: Gowda

Will expand scope of online booking: Gowda

Ticket bookings through post offices and mobile phones will be popularized, also coin operated ticket machines: Gowda

Will take eco-tourism to North-Eastern states

Will ramp up e-ticketing services to reach a generation target of 7,200 tickets a minute
12:40  BHEL and LT stocks have turned negative after trading in  positive territory since morning, they are major aspirants for construction related activities of Railways.
12:39  Will expand scope of online booking: Gowda

RO drinking water at select stations on pilot bases: Gowda

Budget allocation for cleanliness up 40%, cleaning activity to be outsourced to 50 agencies; CCTV to monitor cleanliness, third-party inspection proposed: Gowda

Want battery operated cars for senior citizens at railway stations: Gowda

Catering a major concern: Gowda proposes to introduce pre-cooked ready-to-eat meals of reputed brands in a phased manner
12:30  Railway Min seeks Cabinet approval for FDI in railways, except operations

Railway Minister: FY15 Estimate for surplus seen at Rs 602 crore

Sadananda Gowda: Four projects are 30 years old which are yet incomplete

Focus so far has been on sanctioning projects rather than completing them: Railways Minister
12:28  Propose PPP model for High-speed trains: Gowda

Seek Cabinet approval for FDI in Railways: Gowda

G
owda proposes to allow FDI in Railways, except operations

Fare revision will bring Indian railways additional revenues of Rs 8000 cr: Gowda

Financial performance for 2013-14: Passenger earnings short of revised target by Rs 968 crore
12:24  Of the 676 projects sanctioned, only 356 remain completed: Gowda

M
ismanagement and apathy has hurt Indian railways over the last 10 years: Gowda

T
here are 4 projects that are over 30 years old but have still not been completed : Gowda

B
uilding new lines is a loss making proposition: Gowda

It is investment in doubling and tripling lines that yields money for railways: Gowda

Loss per passenger per km up form 10 paise earlier to 23 paise today: Gowda

R
s 5 lakh cr required over the next 10 years to meet cost of ongoing projects alone: Gowda
12:22  Indian Railways spends almost 94 paise on salaries, maintenance, capex, of every rupee earned: Railways Minister

Indian Railways will continue to fulfill social responsibilities, but difficult beyond a point without comprising on efficiency: Railway Minister
12:19  Railways carries 23 million passengers a day, 1 bn tonnes of freight a year: Gowda
Gowda: Trains that run in India are capable to move the entire population of Australia.
Indian Railways hauls 1 billion tonnes of freight anually, but only 33% of all freight carried on all modes: Railway Minister
12:18  Railways carries 23 million passengers a day, 1 bn tonnes of freight a year: Gowda
Gowda: Trains that run in India are capable to move the entire population of Australia.
Indian Railways hauls 1 billion tonnes of freight anually, but only 33% of all freight carried on all modes: Railway Minister
12:14  Sadanand Gowda says honesty first chapter in the book of wisdom
Target to become the largest freight carrier in the world: Gowda
Railway Minister says he is flooded with requests for new trains, railway lines
12:13  At 1218 hour the 30-share BSE Sensex is down 46 points at 26,054.34. The NSE Nifty is down 22 points at 7,764.70.
12:08  Railway Minister Sadanand Gowda made waves even before he presented his maiden budget with a 14 percent hike in passenger fares across the country.
12:02  Expectations:
PPP model should be encouraged: Ex-Rail Board chief
Passenger fare hike may provide for Rail capex: IDFC Sec
11:46  The high-profile Golden Quadri-lateral Rail Network-linking the four metro cities-might be important highlights of the Budget.
11:43  High-speed trains, world-class stations and safe journeys are likely to be the government's top priorities
11:40  Icra Q1 net up 28% at Rs 19 crore on rise in other income
I'm very uncomfortable with current stock levels: Joseph Stiglitz
11:39  At 1144 hour the 30-share BSE Sensex is down 51 points at 26,048.66. The NSE Nifty is down 22 points at 7,765.15.
11:35  Budget may not announce major exemptions for salaried class
Modi Budget 2014: PSU reform theme will continue to play out: HDFC Sec's Seth
11:34  Titagarh, Kernex, Texmaco fall 5% ahead of Rail Budget.
11:33  Railway minister arrives at Parliament to present Budget
11:32  The world's scariest train rides
11:29  Ex-Rails minister Dinesh Trivedi says railway compartments for poor people look like prisoners of war coaches. Let\'s give them dignity.
UPA govts Rail Budget:
Estimated gross traffic receipts for 2014-15 at Rs 1.6 lakh crore
Estimated total working expenses for 2014-15 at Rs 1.44 lakh crore
Estimated freight traffic target for 2014-15 at 1.101 billion tonnes
Estimated investment of Rs. 64,305 crore under Annual Plan 2014-15
Estimated Budgetary support in 2014-15 at a little over Rs 30,000 crore
11:26  Railway Minister tweets: Hope we are able to meet public expectations
We will make railway people friendly, says Rail Minister Sadananda Gowda
Interestingly, most of these stocks touched 52-week highs before falling prey to profit booking. However, Hind Rectifier and Kalindee Rail are still on buyers' radar.
Stocks like Titagarh Wagons , Kernex Micro and Texmaco are down around 5 per cent intraday on Tuesday.
11:24  Govt understands need for fiscal prudence
Fiscal deficit must be maintained at acceptable level
States fiscal deficit better that Centres
11:12  Expect Rail Budget to upgrade existing infrastructure
Capital infusion can help railway sector improve services
Kalindee Rail: Hope government will push freight, high speed corridors in the Budget
KPMG: Need large foreign investments to bring in latest technology
10:34  The first Rail Budget of the new government is likely to have announcements related to high-speed trains, including potential sources of funding for the much-speculated bullet train, project.
The Budget is likely to have clear schedules and steps for increasing the speed of passenger trains, one of the promises made by both railways minister Sadananda Gowda and Prime Minister Narendra Modi.
10:10  For Railway Minister D V Sadanand Gowda, it will be a tightrope walk between populism and tough reform measures as it presents the Modi government's first Railway Budget at a time when the cash-strapped transporter is gasping for survival.
10:05  Markets erase early gains; IT stocks plunge:  Markets have erased its momentary gains and are trading marginally in red as investors turn cautious and book profits.  
At 9.45 AM, the Sensex is trading at 26,065 levels down by 35 points and Nifty is quoting at 7,772 levels down by 15 points.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 198.57 crore on Monday, 7 July 2014, as per provisional data from the stock exchanges.
09:57  The first Mumbai-Ahmedabad high-speed train proposal may get a push in the new government's maiden rail budget, considering Prime Minister Narendra Modi's promise of a diamond quadrilateral of bullet trains to connect the four major cities of Mumbai, Delhi, Kolkata and Chennai.
A high-speed train will run at a maximum speed of 320km/h and cover 534km between the two cities in two hours.
09:45  Nifty opens above 7,800 ahead of Rail Budget:  The markets have opened on a positive note ahead of the Railway Budget announcement later in the day.
Investors expect the government to unveil reform-oriented measures and take steps to modernise the Railways.
At 9.15 AM, the Sensex is quoting 52 points higher at 26,153 levels and Nifty is trading 16 points higher at 7,803  levels.
Tata Power, Sun Pharma, HDFC, Cipla and ITC are some of the top gainers among the Sensex scrips. However, Dr Reddys, Tata Motors, Wipro and TCS are trading weak.
09:37  Assocham for Rs 40,000 cr budgetary support to Railways:  The industry chamber said the financial assistance will enable transformation of the Indian Railways, which at present is under tremendous financial constraint, into the most efficient and affordable carrier in the world. It said the support would evoke interest of global investors to invest in upgradation of the Indian Railways network.
09:34  Gowda may tap external funding for railway projects.
He is likely to propose to convert railways into a number of listed corporations.
Travel cos bat for FDI in Railways.
09:28  Shares of railway related companies are in focus and trading higher by up to 4% in early morning deals on the Bombay Stock Exchange (BSE) ahead of Railway Budget today.
Texmaco Rail & Engineering, Titagarh Wagons, Kalindee Rail Nirman (Engineers), Kernex Microsystems (India) and Stone India are up 1-4%, trading at their respective 52-week high on BSE.
Analysts expect in the Railway Budget, the government will focus on modernisation and devise new strategies to attract private investment in the Railways.
09:22  Mumbai Metro to offer discounted fares from today:  Mumbaikars commuting on the 11.4-kilometre (km) Versova-Andheri-Ghatkopar corridor of the Mumbai Metro will not have to pay fares of Rs 10, Rs 20, Rs 30 and Rs 40 fixed by Reliance Infrastructure arm Mumbai Metro One Pvt Ltd  from Tuesday.
They will pay according to the new discounted fares of Rs 10 (3 km), Rs 15 (8 km) and Rs 20 (20 km).
Further, a commuter would have to pay a mere Rs 20 to travel between Versova and Ghatkopar by using a token and Rs 15 if he uses a smart card.
09:21  Mumbai Metro to offer discounted fares from today:  The markets are likely to open in the positive terrain as investors are expecting fundamental reforms and technical up gradation of the railways in the Railway Budget.
Railway stocks including Texmaco Rail & Engineering, Titagarh Wagons, BEML, Kalindee Rail Nirman (Engineers), Kernex Microsystems (India) and Stone India are likely to remain in focus.

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