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Railway supplier stocks drop as Railway Budget disappoints

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 Railway supplier stocks drop as Railway Budget disappoints
Titagarh Wagons: Quotes, News
BSE 55.70BSE Quote1.45 (-2.60%)
NSE 55.70NSE Quote1.3 (-2.33%)
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

Read more about: railway budget dinesh trivedi
Story first published: Wednesday, March 14, 2012, 14:44 [IST]
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