In the last 3 days Titagarh Wagons has fallen 15.13%, Texmaco Rail 14.06%, Kernex Microsystems 9.4%, and Container Corp has shed 4.88%
Mumbai: Shares of select domestic railway companies extended losses for the third consecutive session after railway minister Suresh Prabhu presented the railway budget for fiscal year 2015-16.
In the last three days Titagarh Wagons Ltd has fallen 15.13%, Texmaco Rail and Engineering Ltd 14.06%, Kernex Microsystems India Ltd 9.4%, Container Corporation of India Ltd 4.88%, Stone India Ltd 12.8% and Kalindee Rail Nirman Engineers Ltd 15.2%.
The government will increase investment in its overloaded railway network to ₹ 8.5 trillion over the next five years, the minister said on Thursday, promising to modernize existing tracks and introduce faster trains. Railway minister Prabhu said the proportion of rail revenue available for investments would rise to 11.5% in the fiscal year starting on 1 April, up from 8.2% in the current fiscal year.
Shares of Texmaco Rail and Engineering shed 2.51% to ₹ 135.70, Kernex Microsystems India closed flat at ₹ 46.55, Container Corporation of India declined 3.47% to ₹ 1,518.95, Stone India retreated 6.07% to ₹ 79.70, while Kalindee Rail Nirman Engineers dropped 4.05% to ₹ 135.10. However, Titagarh Wagons closed 0.50% higher at ₹ 582.10.
So far this year, Titagarh Wagons has gained 83.69%, Texmaco Rail and Engineering has added 0.4%, Kernex Microsystems India has fallen 22.8%, Container Corporation of India has advanced 13.2%, Stone India has gained 8.95% and Kalindee Rail Nirman Engineers Ltd has risen 2.4%.