Rail stocks fall in absence of major announcements in Interim Budget

Rail stocks fell on  Wednesday in absence of major announcements in the Interim  Railway Budget presented by Railway Minister Mallikarjun Kharge.

While stock of Kalindee Rail Nirman (Engineers) was trading lower by 1.96 per cent, Titagarh Wagons fell 1.23 per cent. Stock of Kernex Microsystems fell 4.04 per cent and Hind Rectifiers fell 6.11 per cent on the BSE at 12: 44 pm.

The stocks surged around noon, just before Railway Minister Mallikarjun Kharge started to present the interim budget of the network for the next financial year.

Earlier, shares of wagon maker Texmaco Rail and Engineering rose 0.58 per cent to trade at Rs 43.25 around 12 pm, rising a bit from the intra-day low of Rs 42.85.

Scrip of Kalindee Rail Nirman (Engineers) rose 1.43 per cent at Rs 67.30, moving up from the intra-day low of Rs 65.75.

Stocks of another wagon manufacturer Titagarh Wagons reported gain of 1.99 per cent at Rs 107.40. However, shares of Hind Rectifiers slipped 5.40 per cent to trade at Rs 33.30.

-With IANS inputs