Rail Budget, well, it turned out a damp squib as usual to say the least. Still I am not disappointed totally. Also we were not off the mark by long way... None of the stock showed any positive movement. Shorting was an option but none of this stock trades in Derivatives segment and direct shorting of stocks without owning them is something I don't advise. While NIFTY did not show any positive movement (induced by budget), stocks were bad. Just to mention;
- Titagarh Wagons Down 4.5%
- Kalindee Rail Down 7.5%
- Kernex Microsystem Down 5.5%
- Texmaco Rail Down 7.0%
Rail Budget, with hike in passenger fares, has already created a storm. However Rail Minister at least got his priorities perfectly in order... Country First, Family Second and Party (TMC) Third. It will be a pity if TMC removes him from Rail Ministry.
Tomorrow is the day of Economic Survey. The survey is the summary and analysis of the state of the Economy and its performance in previous fiscal. The survey contains various key economic figures and indicators and it is usually a precursor in determining what lies ahead in General Budget. It is Governments reading of the state of the Economy and how it fared in last year. Depending on survey, Government prepares budget for coming year. All about Economic Surveys can be found here.
I will be back with more on Budget... either tonight or tomorrow.
Please post the Economic surveys link --- The above mentioned link isnt working.. Thank you
ReplyDeleteI have corrected the link. See if it works. Regret the inconvenience.
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