India Hot Stocks: Rail operators up after budget announcement

Reuters - Friday, July 3

MUMBAI, July 3 - The following stocks were on the move at the BSE on Friday.

At 12.48 p.m., the benchmark 30-share BSE index <.BSESN> was up 0.3 percent at 14,702.99 points.

The 50-share National Stock Exchange Index <.NSEI> was up 0.3 percent at 4,361.3 points.

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* Shares in railway operators extended gains after the railway minister said private operations of freight terminals will be encouraged. Shares in Container Corp of India <CCRI.BO> were trading up almost 5 percent at 1,019.50 rupees.

Shares in Gateway Distriparks Ltd <GATE.BO> were up 2.06 percent at 101.75 rupees while Arshiya International shares were up 4.6 percent at 121.90 rupees.

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* Shares in Balaji Telefilms Ltd <BLTE.BO> fell as much as 8.67 percent in opening trade after the television content producer said late on Thursday it has received a show cause-cum-demand notice for 635 million rupees from the service tax commissioner. Shares were down 4.38 percent at 52.35 rupees.

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* Rail wagons makers and operators were up 1.3-3.4 percent ahead of the federal rail budget. Container Corp of India <CCRI.BO> was up 2.4 percent at 995 rupees, Gateway Distriparks <GATE.BO> rose 2.3 percent to 101.7 rupees, while wagon makers Texmaco <TEXM.BO> and Kalindee Rail <KALI.BO> were up 2 percent each.

For budget view on wagon makers click on [ID:nBOM485724]

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* Maytas Infra Ltd <MAIL.BO> was up 2.8 percent at 69.8 rupees after the construction firm, linked to the founders of fraud-hit Satyam Computer <SATY.BO>, said it had worked out a debt restructuring package with its lenders. About 3 billion rupees would be released immediately, with an additional 3 billion to be released in three months.

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