Railway-linked stocks crash over 10% post Rail Budget 2016

By: |
New Delhi | Updated: February 26, 2016 10:41:13 AM

Railway-related companies shares remained under pressure for the second day after Rail Budget 2016 failed to propel market sentiments.

rail stocks, titagarh wagons, kalindee rail, stone india, rail budgetRailway-related companies shares remained under pressure for the second day after Rail Budget 2016 failed to propel market sentiments. (Photo: Shah Mohsin)

Railway-related companies shares remained under pressure for the second day after Rail Budget 2016 failed to propel market sentiments. At 10.21 am, Titagarh Wagons and Kalindee Rail Nirman shares were trading 14.07 per cent and 12.64 per cent down at Rs 97.60 and Rs 108.50, respectively.

Other rail stocks such as Hind Rectifiers, Texmaco Rail & Engineering, Stone India and Kernex Microsystems (India) shares were trading 6.61 per cent, 11.50 per cent, 6.64 per cent and 4.87 per cent down at Rs 60, Rs 105.80, Rs 59.80 and Rs 34.20, respectively.

The 30-share index BSE Sensex was trading 106.65 points down at 23,088.47.

According to Reliance Securities, the Railway Budget for 2016-17 showed its thrust towards investments, however, it is going to be a challenging task for Railway minister given the 7th Pay Commission, which has put an additional burden of Rs 28,500 crore and lower nominal GDP growth forecast.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1RBI to conduct Rs 12,000 crore of open market operation purchase
2As stock markets correct, buyback gains momentum
3Sebi-Amfi meet to discuss Mutual Fund, debt fund regulations