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Scrips of railway-related companies decline before rail budget

Posted on Feb 26, 02:11PM | IANS

Mumbai, Feb 26 : Scrips of companies related to Indian Railways declined in the 11.30 a.m. trade session Tuesday, just before the presentation of the railway budget for 2013-14 in parliament.

Companies such as Titagarh Wagons, Kalindee Rail Nirman, Kernex Micro, Stone India, Texmaco Rail and Engineering and Gateway Distripark declined at the Bombay Stock Exchange (BSE).

However, state-run Container Corporation gained.

Wagon and freight car-manufacturer Titagarh Wagons slipped heavily and stood at Rs.260.80 per share, down 2.40 percent from its previous close of Rs.260.80.

The scrip of anti-collision systems manufacturer Kernex Micro declined by 2.30 percent and stood at Rs.51 from its previous close of Rs.52.20.

Kalindee Rail Nirman, a company involved in execution of railway tracks, signalling and telecommunication projects, was trading 3.27 percent down at Rs.77.00 from its previous close of Rs.79.60 per share.

Engineering firm Stone India, which is engaged in railway construction projects, too saw a decline. The stock was trading lower by 3.79 percent at Rs.22.85 from its previous close of Rs.23.75 per share.

Engineering company Texmaco Rail and Engineering was down 2.35 percent at Rs.60.15 per share from Rs.61.60, its previous closing price.

Logistics company Gateway Distriparks' scrip was also trading lower. The stock fell 1.52 percent at Rs.132.85 from its previous close of Rs.134.90 a share.

However, state-run logistics company Container Corporation gained 1.81 percent at Rs.1,008.85 from its previous closing price of Rs.990.90 per share.