Rail Budget 2012-2013|Effect on Share Market|Railway Stocks|Nifty Futures Range Levels for Today 14 March :-Indian Rail budget is going to be presented tomorrow for the year 2012-2013. It has its own impact and significance. Indian Railway has world's fourth largest railway network. With passenger fares unlikely to be hiked, Railway Minister Dinesh Trivedi will present his maiden railway budget for 2012-13. Let us see how will it be different from the budget presented by Mamata Banerjee last year. Rail Budget matters a lot due to following reasons:
- It is the world's second largest commercial or utility employer, by number of employees.
- It is India’s biggest central ministry in terms of size.
- It carries over 30 million passengers and 2.8 million tons of freight daily.
- The railways earn Rs 30,000 crore from passenger fares.
- The fastest trains of Indian Railways face competition from low-cost airlines.
- Railways on Tuesday withdrew 4% exemption on fertiliser and foodgrain loading rates ahead of Rail Budget.
- Railways, is expected to garner about Rs 70,000 crore from freight earnings in the current fiscal.
- This hike would mean a potential to increase annual earnings by up to Rs 18,000 crore.
- Various projects are expected to be implemented for this.
Nifty Range For 14 March : We will be having important data and events in this week, thus markets are likely to be highly volatile in this week. The next 3 days will be crucial for stock market on domestic front as there will be Railway Budget, RBI Monetary Policy and Union Budget and Global developments like Fed meeting and results of US banks Stress test will continue to influence the market sentiments. We may see Immediate resistance for Nifty near 5520-5600 and support level is seen near the mark of 5320 and then 5275.
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