For Quick Alerts
For Daily Alerts
Railway supplier stocks drop as Railway Budget disappoints
|
Companies that offer products to the Indian railways saw their shares dropping, as there was disappoint from the Railway budget presented by Railway Minister Dinesh Trivedi.
Texmaco dropped 7% to Rs 66.35, while Kalindee Rail Nirman too dropped 7% and Titagarh Wagons was down 5.43% at Rs 406.50 at 2.38 PM IST.
Marketmen expect railway stocks to continue to be under pressure at least for the next few sessions.
Indian Railways needs a sum of Rs 14 lakh crores in the next 10 years, Dinesh Trivedi, Railways Minister said, while presenting the Railway Budget 2012-2013.
Trivedi emphasised the need for funding to achieve ambitions of safety, consolidation capacity augmentation and,de-congestion. He stated that 487 projects were pending and unless he got the support from his government it would be difficult to implement the projects.
GoodReturns.in
Story first published: Wednesday, March 14, 2012, 15:00 [IST]