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 125.90BSE Quote8.3 (6.59%)
NSE 126.30NSE Quote8.55 (6.77%)
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. 

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