Railway stocks slump during noon trade

Stocks of companies associated with railways slumped around noon Wednesday, soon after the Railway Minister Dinesh Tivedi presented the budget of the network for the next fiscal.

At the Bombay Stock Exchange, shares of wagon maker Texmaco Rail and Engineering fell 5.62 percent to trade at Rs.67.20 around 12.50 p.m., rising a bit from the intra-day low of Rs.66.75.

Scrip of Kalindee Rail Nirman (Engineers) slumped 4.46 percent at Rs.107.20, moving up from the intra-day low of Rs.106.15.

Stocks of another wagon manufacturer Titagarh Wagons reported a fall of 4.47 percent at Rs.410.65 while shares of Hind Rectifiers slipped 2.75 percent to trade at Rs.46.

However, Bharat Earth Movers reported a marginal increase at Rs.681.50, while another firm doing business with the railways Transformers and Rectifiers (India) saw its stock rise 1.95 percent to trade at Rs.180.20.