Rail stocks see mixed trend ahead of budget
The Railways has earned Rs 1,36,079.26 crore as against the target of Rs 1,41,416.05 crore in April-January of this fiscal.
Mumbai: Rail stocks witnessed a mixed trend in an overall sluggish broader market ahead of the Rail Budget to be announced later in the day. Stone India went up 5.51 per cent and Titagarh Wagons gained 2.62 per cent on BSE.
In contrast, shares of Hind Rectifiers plunged 6.22 per cent and Kalindee Rail Nirman Engineers fell 4.59 per cent while Kernex Microsystems was down 4.49 per cent and Texmaco Rail & Engineering 2.89 per cent. These stocks saw a bout of volatility before Railway Minister Suresh Prabhu's budget presentationon February 25.
Meanwhile, in the broader market, the benchmark BSE Sensex was trading on a flat note, up 19.98 points, at 23,111.66 at 1100 hrs. The Railways has earned Rs 1,36,079.26 crore as against the target of Rs 1,41,416.05 crore in April-January of this fiscal, a decline of 3.77 per cent.