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

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New Delhi | Updated: Feb 26, 2016 10:41 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.

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