Railway-linked firms’ stocks volatile ahead of budget

Mumbai, Feb 25:

A day ahead of the railway budget, stocks of companies associated with the transporter turned volatile in Wednesday’s trade.

At the Bombay Stock Exchange (BSE), shares of wagon-maker Texmaco Rail and Engineering closed 2.90 percent down at Rs.139.20 from its previous close of Rs.143.35.

Stocks of another wagon manufacturer, Titagarh Wagons, declined in the day’s trade, ending 6.19 percent down at Rs.579.20 from its previous close of Rs.617.40.

The shares of Hind Rectifiers declined by 3.82 percent at Rs.78 from the previous close of Rs.81.10.

The scrip of Transformers and Rectifiers (India) slipped by 1.17 percent at Rs.186.50 from the previous close of Rs.188.70.

Container Corporation of India’s stocks too declined in the Wednesday’s trade. It was down 0.12 percent at Rs.1,573.60 from its previous close of Rs.1,575.50.

However, the scrip of Kalindee Rail Nirman (Engineers) increased by 1.15 percent at Rs.140.80, moving up from its previous close of Rs.139.20.

Another firm, Stone India’s stocks rose 0.59 percent at Rs.84.85 from its previous close of Rs.84.35 per equity share.

The markets expect the budget to bring fiscal stability to the railways and fund inflows for modernisation, in line with the government’s proposal for infrastructure development through the public-private partnership (PPP) model. IANS