Rail stocks fall as much as 8% in early trade

July 08, 2014 12:25

Stocks of companies related to railways sector fell as much as 8 per cent in morning trade today due to profit-booking ahead of the railway budget.

Shares of Texmaco Rail & Engineering tanked 7.72 per cent, while Titagarh Wagons plunged 4.99 per cent on the BSE. Similarly, Kernex Microsystems fell by 4.93 per cent.

Rail stocks have surged in the past few days on hopes of some measures from this railway budget including FDI in railways, introduction of bullet trains, robust maintenance system for railway tracks, increasing the number of trains and raising the speed of trains. In the stock market, the benchmark BSE Sensex was trading at 26,055.28, down 44.80 points at 1130 hours.

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