Mumbai: Shares of the railway-related stocks were down between four to 10 per cent but all was not gloom and doom as few steel stocks like JSW Steel was up Rs 16.50 whilst Tata Steel was marginally down as railway minister Suresh Prabhu announced the laying of 2,800 kms of new tracks.
Major beneficiaries are the specialised cable companies like CMI due to the announcement of the 2,000 kms of electrification. But there was no such respite for wa-gon makers and allied sectors.
Shares of Titagarh Wagon, Texmaco Rail, Kalindee Rail Nirman, Stone India, Hind Rectifiers and Kernex Microsystems plunged between four to 10 per cent in the absence of any announcement of additional coaches etc.
However the Sensex plunged below the 23,000 mark to close down at 22,976.00 on Thursday primarily because of global factors like China.
