Though Railway Minister Mamata Banerjee could chart her on course, she is unlikely to replicate the success of her predecessor, who brought back glory to the Railways and earned plaudit for himself. With an eye on West Bengal polls, ‘Didi’ might be inclined to play to the gallery. Too much populism and less emphasis on revenue generation could mar the sentiment further. A ‘Peace Train’ may be in the offing between Kanyakumari to Kashmir.
As for the markets, there is no peace or happiness at start. We expect a soft start owing to weak global markets. By itself, the Railway Budget is not expected to swing the mood on the bourses. That might happen when the Union Budget is out on Friday. But, even that might not be able to do so, given the concerns on local as well as global front. In short, the choppy consolidation phase may prevail for a while before the market breaks out of the current rangebound activity. The best way to overcome near-term uncertainty is to stay put and not do anything adventurous.
