Railway-related stocks such as Kalindee Rail, BEML, Kernex Microsystems, Stone India and Titagarh Wagons have frozen lower circuit of 5% third day in a row on BSE with no buyers on the counter after Railway Minister Sadananda Gowda presented maiden Budget on Tuesday, July 8, 2014.
Texmaco Rail & Engineering (Texrail) has dipped nearly 8% to Rs 86.30, extending its over 30% fall in past two trading sessions on the BSE. The stock hit 52-week high of Rs 150, in intra-day trades on Tuesday, has fallen 42% in past two trading sessions on BSE.
Mayuresh Joshi, vice-president (institutional research), Angel Broking, says, “The markets were expecting too much from the Railway Budget. Now, they perceive the finance minister has very little elbow room to play around with in the coming Budget. This explains the fall in the markets, including rail-related stocks saw profit-booking.”
Kalindee Rail, BEML, Kernex Microsystems, Stone India and Titagarh Wagons too, have fallen between 15-20% from their respective 52-week highs on BSE. Most of these stocks had gained more than 100% from their 52-week lows touched in August last year.
Texmaco Rail & Engineering (Texrail) has dipped nearly 8% to Rs 86.30, extending its over 30% fall in past two trading sessions on the BSE. The stock hit 52-week high of Rs 150, in intra-day trades on Tuesday, has fallen 42% in past two trading sessions on BSE.
Mayuresh Joshi, vice-president (institutional research), Angel Broking, says, “The markets were expecting too much from the Railway Budget. Now, they perceive the finance minister has very little elbow room to play around with in the coming Budget. This explains the fall in the markets, including rail-related stocks saw profit-booking.”
Kalindee Rail, BEML, Kernex Microsystems, Stone India and Titagarh Wagons too, have fallen between 15-20% from their respective 52-week highs on BSE. Most of these stocks had gained more than 100% from their 52-week lows touched in August last year.
