 "Rail stocks derail post budget; Texrail tanks over 30% in two-days")
Railway-related stocks continued to remain under pressure for the second straight day, falling by over 30% in two days on the BSE, following Railway Minister Sadananda Gowda unveiling his maiden Budget.
Texmaco Rail & Engineering, Titagarh Wagons, Kernex Microsystems, Stone India, BEML and Kalindee Rail are trading 5-15% lower on the BSE on Wednesday.
Texmaco Rail & Engineering (Texrail) has dipped 15% to Rs 98.80, extending its Tuesday’s 20% fall on the BSE. Titagarh Wagons, Kalindee Rail Nirman, BEML, Stone India and Kernex Mircrosysems hit their lower circuit filters of 5% for second consecutive day on the BSE.
The Railway Budget came in tad below expectation from the stock market point of view. It lacks concrete measures and focuses more on broader vision, i.e. towards resource mobilisation and development projects, says analyst at Angel Broking in client note.
Texmaco Rail & Engineering, Titagarh Wagons, Kernex Microsystems, Stone India, BEML and Kalindee Rail are trading 5-15% lower on the BSE on Wednesday.
Texmaco Rail & Engineering (Texrail) has dipped 15% to Rs 98.80, extending its Tuesday’s 20% fall on the BSE. Titagarh Wagons, Kalindee Rail Nirman, BEML, Stone India and Kernex Mircrosysems hit their lower circuit filters of 5% for second consecutive day on the BSE.
The Railway Budget came in tad below expectation from the stock market point of view. It lacks concrete measures and focuses more on broader vision, i.e. towards resource mobilisation and development projects, says analyst at Angel Broking in client note.