Railway stocks rally after Narendra Modi appoints new minister

Mumbai: Railway stocks rally after the appointment of new minister. Traders cite hopes for reforms and investment into sector. PM Narendra Modi appointed Suresh Prabhu as railway minister as part of a cabinet expansion.

Texmaco Rail and Engineering Ltd shares rise 4.5 per cent. BEML Ltd  gains 4.3 per cent and Titagarh Wagons Ltd surge 4.1 per cent.