1:55 pm Rail Budget:
In additions, the Railways plans to nuture customers by appointing key Customer Managers to liaison with major freight stakeholders. Each Zonal Railway will develop customer commitment charter indicating service level commitments of IR, will explore the feasibility of opening up leasing of general purpose wagons.
1:50 pm Rail Budget: Undertake review of tariff policy to evolve a competitive rate structure vis a vis other modes, permit multi-point loading/unloading and apply differentiated tariffs to increase utilization of alternate routes, explore possibility of signing long term tariff contracts with key freight customers using pre-determined price escalation principles.
1:45 pm Rail Budget: To start time-tabled freight container, parcel and special commodity trains on a pilot basis. The container sector would be opened to all traffic barring coal, specified mineral ores and part-loads during the non-peak season. All existing terminals/sheds would be granted access to container traffic, where considered feasible.
Read more at: http://www.moneycontrol.com/news/economy/railway-budget-2016-17-3-ways-bysuresh-prabhu-aims-to-regain-freight-mkt-share_5642821.html?utm_source=ref_article
1:35 pm Rail Budget: Railway Minister Suresh Prabhu on Thursday outlined a three-pronged approach to help Railways regain its market share in freight haulage. From a high of close to 80 percent in 1951, Railways’ share of freight has fallen below 20 percent. A combination of congested rail networks and a steady rise in freight rates to offset the losses in passenger revenues is to blame for this trend.
1:30 pm Rail Budget highlight: Gross traffic receipts kept at Rs 184,820 crore. Passenger earnings growth has been pegged at 12.4 percent and earnings target budgeted at Rs 51,012 crore. The freight traffic is pegged at incremental traffic of 50 million tonnes, anticipating a healthier growth in the core sector of economy. Goods earnings is accordingly proposed at Rs 1,17,933 crore. Other coaching and sundries projected at Rs 6,185 crore and Rs 9590.3 crore respectively.
1:25 pm Market check: The Sensex is down 111.14 points or 0.5 peercent at 22977.79, and the Nifty down 42.60 points or 0.6 percent at 6976.10. About 836 shares have advanced, 1402 shares declined, and 149 shares are unchanged.
1:20 pm Rail Budget highlight:
FY17 operating ratio seen 92 percent
Increasing rigour on cost optimisation in FY17
Freight’s contribution to earnings seen 67 percent
FY17 gross budgetary support seen Rs 40000 crore
44 new projects planned FY17 worth Rs 92700 crore
1:15 pm Rail Budget highlight:
FY17 investment seen at Rs 1.21 trillion
Investment rate of capex has increased substantially
FY17 capital expenditure seen Rs 1.2 trillion
FY17 revenue seen Rs 1.84 trillion
1:10 pm Market check: The Sensex is down 118.67 points or 0.5 percent at 22970.26, and the Nifty down 42.90 points or 0.6 percent at 6975.80. About 830 shares have advanced, 1365 shares declined, and 158 shares are unchanged.
Don’t miss: Prabhu sees FY17 revenue up 10%; to save Rs 8720 cr in FY16
Sensex, Nifty continues to struggle as the Rail Budget has not announced anything so far to spark sentiments. The Sensex is down 79.05 points or 0.3 percent at 23009.88, and the Nifty down 32.20 points or 0.5 percent at 6986.50. About 848 shares have advanced, 1331 shares declined, and 163 shares are unchanged.
Coal India, HDFC, Hindalco, Sun Pharma and ONGC are top gainers while GAIl, Adani Ports, Bajaj Auto, SBI and Infosys are losers in the Sensex.