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Rail stocks on Thursday gained as much as 6 per cent after India and China signed 12 agreements on various issues including investments in the railways.
Shares of Stone India jumped 6.22 per cent, while Kernex Microsystems gained 4.95 per cent on the BSE.
Among others, Kalindee Rail Nirman rose by 3.30 per cent, Titagarh Wagons (2.24%), Texmaco Rail and Engineering (2.01%) and Container Corporation of India (1.55%).
“Participants were truly excited by the prospects of huge investments by China in India’s infrastructure, railway & manufacturing projects,” said Devang Mehta, Sr VP & Head — Equity Advisory, Anand Rathi Financial Services.
India and China today signed 12 agreements following talks between Prime Minister Narendra Modi and Chinese President Xi Jinping.
After the talks on the second day of Jinping’s three-day visit, 12 agreements were also signed on various issues including setting up two Chinese industrial parks in India and investments in the Railways.
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