Railway-related stocks fall on profit booking ahead of budget

Tags: Companies
Railway-related stocks fall on profit-taking ahead of railway budget presentation later in the day. Shares in the sector have surged on hopes of reforms including opening of the sector to foreign investments under newly-elected Modi government, traders say.

Titagarh Wagons Ltd, which has risen 183 percent in 2014 compared to the Nifty's gain of 23.65 percent, falls 4.4 percent.

Texmaco Rail & Engineering Ltd is down 1.3 percent and BEML Ltd slumps 3.7 percent.

Any increase in the FY15 outlay for railways compared to 643 billion rupees ($10.73 billion) set in the previous budget would be seen as positive, investors say.

Also, any specific mention regarding increase in allocation or procurement for wagons will be positive for wagon manufacturers.

EDITORIAL OF THE DAY

  • Wealth inequality poses a bigger challenge for policy planners and economic governance

    Was garibi hatao call of Indira Gandhi ,made in the 1970s, a mere electioneering slogan?

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust:The mother of all battles

Gassed out after the interminable interplay of the Yadavs in ...

Rajgopal Nidamboor

Of life’s essentiality and synchrony

It is no big deal to think of psychology as ...

Anil Dharker

No women, no Cry

EDM, as you would know if you are young, (and ...