Advertisement

HindustanTimes Fri,01 Aug 2014

Railway stocks under pressure, tank as much as 8%

PTI  Mumbai, February 26, 2013
First Published: 13:30 IST(26/2/2013) | Last Updated: 13:33 IST(26/2/2013)

Share prices of companies that caterto the railway sector were under pressure and tanked as much as 8 per cent on the bourses as Railway Minister Pawan Kumar Bansal delivered his maiden Rail Budget in the Lok Sabha.

Advertisement

Kalindee Rail Nirman was the largest loser and dropped 8.10 per cent on the BSE, followed by Hind Rectifiers which dropped 6.71 per cent and Kernex Microsystems which fell by 6.42 per cent.

Among others, Stone India tanked 6.53 per cent, Titagarh Wagons was down 5.65 per cent, Texmaco Rail (down 4.87 per cent), Zicom Security (down 3.60 per cent) and BEML (down 2.17 per cent).

Meanwhile, the benchmark sensitive index Sensex was trading in the negative territory and was down 162.98 per cent at 19,168.71 points.

Commenting on the downtrend, market players said, these stocks are under pressure as concerns were rife as to whether there would be a fare hike.

They said there might be a fuel adjustment component to adjust for the recent diesel price revision.


Advertisement
more from Business

Argentine markets fall post-default, NY hearing on Friday

Argentina's bond and stock markets and peso currency dropped on Thursday after Latin America's No. 3 economy defaulted for the second time in 12 years following the collapse of last-ditch talks with holdout creditors.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved