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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The NDA government would do well to keep its economic focus in place

    It is as if the worst horrors conjured by liberal secularists about India’s prime minister could be finally coming true.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture