In his rail budget 201617, Prabhu increased the capital outlay for the world's fourth largest rail network by 21 per cent YoY to Rs 1.21 lakh crore. "To accomplish his vision, Prabhu has announced investment of $140 million over next five years to improve the infrastructure and mobility of services. We believe ending of a separate railway budget is not going to impact these stocks negatively. Nowhere in the world does the Railway have a separate budget," he said.Meanwhile, shares of Kernex Microsys and Hercules Hoists fell 33 per cent and 14 per cent during the period. Stone India, Texmaco Rail and Kalindee Rail were some of the stocks which have gained up to 12 per cent during Prabhu's tenure so far.

Source: Economic Times September 07, 2016 04:56 UTC